Notes When Signing an Office Lease Contract

After choosing a satisfactory office for rent, what legal terms and obligations should you pay attention to when signing an office lease contract? Here are some notes that you need to know when signing an office lease contract.

Check the legality of the lessor in the office lease contract

Firstly, The purpose is to ensure the legality of the lessor in the office lease contract. Avoiding cases where the contract is invalid because the lessor is not qualified to do real estate business or is not authorized (notarized) by the owner.

Check the rental area

Secondly, There are 2 rental areas: Gross and Net. The parties must clearly determine the rental area to negotiate the most accurate rental price.

Gross area: (the lessee pays for all public areas, walkways, corridors, toilets, elevators, …).

Net area: calculated according to the actual area the business pays from the wall to the partition.

Read more: Office Receptionist Job When Renting an Office

Negotiating the rental price

Thirdly, Determine the rental price in VND/m2. In addition to the office rental fee, customers should note to determine the electricity fee, overtime pay, and fees for using the building’s utilities (meeting room).

Deposit in the office lease contract

Fourthly, Deposit from 2-3 months of rent. Customers can negotiate the rental deposit. Excluding management fees to avoid financial suffocation due to too much capital tied up.

Payment time and payment method of the office lease contract

Then, The parties can agree on the payment time by month/quarter. However, expenses such as electricity, parking and other relate expenses can be agree to be paid monthly depending on actual usage (Clause 1, Article 473 of the Civil Code).

Lease term

Also, to stabilize the rental price, customers should negotiate a 2-year lease term to avoid sudden price increases. The lessor does not prioritize contract renewal (to avoid wasting budget for repair and office setup).

Contract termination clause

Further, Customers should note the cases leading to contract termination (agreement, at the request of one party, due to the fault of the other party) and the plan to handle deposits and prepaid rent.

Read more: Definition and Types of Modern Office Utilities

Premises return clause of office lease contract

Furthermore, Customers need to clarify the status of the premises after the contract is terminated (according to the original status or according to the negotiation of the parties at the time of initial premises handover).

Signing of the Premises Handover Minutes

Lastly, With the purpose of determining the current status of the premises as a basis for when the contract is terminate. The lessee returns the premises as it was originally or according to the agreement.

CONTACT US

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

In conclusion, above is some information related to legal procedures of office lease contract for transferring real estate formed in the future.

Frequently Asked Questions