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Regulations on Office Rental Cost of Investors and Customers

Regulations on Office Rental Cost of Investors and Customers

Office rental is an essential need of businesses. This is also an important transaction for landlords. So the two parties need to understand the regulations on office rental cost to ensure a successful transaction and a smooth contract.

Regulations on fixed-item office rental cost

Regulations on fixed-item office rental cost

Office leasing is considered by businesses as an important item, creating a premise for the company to make great progress. An office that is right for the company is the right place with the right location, equipment, services, and more, and must have the right rental cost. Among the office rental costs, the fixed cost is the heaviest. Anyone looking into office leasing regulations should read this section carefully.

If you do not choose carefully, businesses are easily pressured when it comes to each payment period. Choosing a working space for the company that is too expensive, too expensive to pay, in the long run, will cause the company’s pocket to be exhausted. So what are the regulations on fixed-item office rental costs?

Office rental cost

This is usually calculated by m2 in modern office buildings of Grade A, and B or as a monthly package in Grade C and D office buildings. But the m2 calculation is more common. For example, Intracom Riverside is a Grade A office project of Intracom Group, located at the foot of Nhat Tan Bridge. The average price of an office floor here is 10$/m2/month. Thus, for floors of 70m2, the hard rent will be 700$/m2/month. Similarly, you can calculate the cost of renting hard office space for each survey location, based on rent/m2 and rental area.

This fixed rental payment period is monthly, quarterly or yearly. Flexible form of payment, depending on the agreement of the lessor and the lessee or based on the agreed contract.

Service charge

Regulations on office rental costs in this service section are understood as the amount the lessee has to pay for the services and utilities provided by the building. These costs will normally include several items such as reception, security, sanitation, water in the WC area, lighting and air conditioning in public areas, elevator operation, and insect disinfection spray. tree care, pruning…

Currently, these costs are also usually calculated according to m2 of rented office space or per capita actual labor in the office. In addition, the office lease contract also cannot lack the fixed cost item, which is VAT.

Regulations on office rental costs according to actual use: In addition to the fixed costs as above, the regulations on office rental costs also have flexible payables according to actual use.

The electricity bill for the air conditioner in the office rental cost

The electricity bill for the air conditioner in the office rental cost

This cost will be charged on a monthly, quarterly, or yearly basis by the agreed and signed contract provisions, usually, in addition to the fixed rent. There are some Grade A and B offices that include this air-conditioning cost in the service cost in the fixed rent section (calculated m2). However, many Grade C and D offices for rent are charged separately. Therefore, for businesses looking to rent an office, it is necessary to ask carefully and pay attention before renting an office actively pay.

You can read the previous article here: Guide to Calculating Office Area By Number of Employees

Power consumption in the office rental area

Almost all office buildings today, regardless of class, calculate the electricity consumption of the rented office according to its meter. Thus, the enterprise must pay this cost according to the actual use.

Parking costs

Regulations on the cost of renting office space for parking are calculated in many flexible forms, depending on the investor or the management. Some buildings offer free parking for motorbikes and cars, depending on the rental area, the number of vehicles exceeding the free limit will cost more. But some courts charge an additional fee for parking according to the actual number of company employees. Therefore, businesses should negotiate carefully before renting to have the most reasonable cost.

Regulations on incurred costs: Due to the needs of the job, there are times when the company will incur additional costs to pay.

Overtime fee office rental cost

Outside of office hours, when the backlog of work causes employees to work overtime, it is necessary to pay additional costs to the management. These costs are for the electricity bill for the elevator, electricity for public areas, WC water, service fee… and central air conditioner electricity bill.

Office buildings have a variety of ways to charge overtime. You should investigate carefully, and see which calculation is most beneficial to you to negotiate. Usually, there are 4 common calculation methods: based on the rented area (m2), based on overtime (hours), based on the air conditioner used, and finally, can be fixed according to the office.

However, there are also buildings that do not charge overtime. Or the management only charges this extra money when the company works overtime continuously for many days or uses the air conditioner a lot.

Fees during interior construction

Many office buildings are free to rent the unit for the time that the unit renovates or decorates and arranges the interior. The free time depends on the negotiation of the two parties, usually 15 – 30 days. “Free” but not completely free! Because, without having to pay space rent, the rental business still has to pay the service fees or electricity costs incurred when constructing the interior.

Ground return fee office rental cost

At the end of the contract, the rental business, after removing their belongings from the premises, surely there are still items that need to be cleaned up such as cleaning up trash, cleaning partitions, glass walls, cleaning old broken furniture, etc. The management or the lessor is the person who will clean the premises and return them to their original state. Therefore, the lessee will be the party to pay this fee. Office rental costs stated in the contract should be added to this item to avoid the controversial termination of the contract between the two parties.

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