• VIETNAM LEASING OFFICE AGENCY

Legal Procedures Needed When Renting an Office

Legal Procedures Needed When Renting an Office

Searching for an office does not just stop at finding a suitable office address, but it is more important for those who rent an office that is to have an office lease with terms of the assurance. Harmonize interests between businesses and building management units and especially ensure legal procedures required by the state.

1. Office lease contract in Legal Procedures

1. Office lease contract in Legal Procedures
An office lease is a written document that is bound by the lessee of the office and the lessee. As with any other contract, an office lease should be thoroughly reviewed by an attorney.
Most lawyers can review a lease in less than an hour. Therefore, the service fees that have to be paid to a lawyer to do this are not a huge expense, but it is a way to ensure safety and avoid problems that may arise in the future.

2. How to calculate the rental price and the office space

Many leases offer common ground rent per square meter. This price can be confusing.
Sometimes it includes unusable spaces, such as hallways and elevators. It makes it difficult to compare two contracts with each other.
In that case, look at the total payable. Sometimes a slightly smaller space with a slightly higher price per square meter may be more efficient for your business, as space is more streamlined and has a higher use value ”.

3. Office lease term for Legal Procedures

3. Office lease term for Legal Procedures
New business owners sometimes don’t want to rent out a location for a long time, or just for a short time. That way, they take the precaution that if the business fails, they won’t be forced to pay large sums of money for a space that is no longer in use.
But it can be difficult to rent in the short term if you are in a stressful real estate market.
As rental space becomes scarce, many office buildings fail to satisfy tenants with the tenor of less than one year.

4. Repair of rental premises

You may want to save money by making repairs yourself, but most leases require permission from the building or the owner’s company.
It is a good idea to present your remodeling plan before signing the lease.

5. Legal Procedures is What should and should not be in the contract

5. Legal Procedures is What should and should not be in the contract
Many business owners focus on the rent and not on what they get for the money. Some buildings agree to pay for electricity and part of shared area maintenance.
There is a full lease, covering all costs, but some landlords or property management companies only sign a lease where they pay only property taxes, insurance, and insurance themselves. maintenance. In these cases, the rent will be lower.
Business owners should be wary of non-money terms too. For example, does a landlord require that lights, fans, or air conditioning be turned off after work or on weekends? This clause will make it difficult for you if you plan to work overtime.
In addition, the fee (if any) when working overtime or overtime should also be included in the contract.

6. Sublease and usage rights permitted

If you decide to move or only use part of the rentable space, you may want to sublease or lease out part of the space you are renting to another business. But this in turn requires permission from your landlord.
Most leases specify what kind of work you are allowed to do. Homeowners often want as little “allowable use rights” as possible. So, in most cases, you should go about the regulation more broadly, in case you plan to grow your business later.

7. Costs of inflation prevention

7. Costs of inflation prevention
Beware of inaccurate operating cost calculations. It is not uncommon for landlords to charge 10 to 15 percent more than their real costs.

To find out more Office administration tips, you can click here: https://lookoffice.vn/category/office-administration-tips/

For Foreign companies want to start or expand businesses and look for an office in Vietnam:

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