Choosing your premises
We carry out hundreds of tenancy assessments with our clients every year in order to assist them in choosing the right space with the best value. The things that are likely to impact most on cost are usually hidden behind walls and ceilings and not immediately obvious.
There are many things to consider when choosing your premises. A large part of this is considering the building itself. Parking, core building facilities, elevator waiting times, tenant and contractor access can all affect your use of the tenancy and costs of occupying.
The tenancy itself may be laid out or shaped in a way that can be easily fitted out to your requirements or may have elements that make your preferred arrangements difficult or costly.
For these reasons we have made a commitment to assisting our clients at this critical stage. We also often work with clients who had no Builders inspection of their new tenancy and hear an array of issues as a result.
The Top 5 Do's and Don'ts of your Tenancy Assessment.
Top 5 Do's of the Office Tenancy Inspection
- Have an Office Fitout Builder come along to inspect the space and services to see if they are suitable for your needs and prepare a dilapidation report for the End of Lease Make-good (if required).
- Have a “Concept Plan” prepared to check if your business will fit into the tenancy space. You'd be surprised how quickly are seemingly large space is taken up.
- Get pricing on the Fitout works, or at least a budget, so that you can run an informed negotiation with the Landlord.
- Inspect other tenancies in the building to see how they used their space, how much they fit into similar spaces and speak with other tenants about the building facilities strengths and weaknesses.
- Inform both your Legal Representative and Accountant about all of this information before you commit to the lease.
The Top 5 Don'ts of the Office Tenancy Inspection
- Don't inspect the tenancy without a knowledgeable person who can help you assess the space against your requirements.
- Don't commit to the space without understanding the Owners Contribution, Tenant Fitout Costs and End of Lease Make-goods costs.
- Don't leave your Lawyer or Accountant out of the loop – they can protect you against scary Make-good or Finanical obligations that may be contained in the Lease.
- Don't assume that a similarly sized area will work just the same as one you previously used - different shaped and constructred spaces have different space planning issues and costs.
- Don't make assumptions on the Fitout Costs based on "Residential" costs or anything other than current Office Fitout Industry benchmarks.
The Office Fitout Guide
If you are a long way out for assessing particular space for a new office and are preparing your planning and budgets the Office Fitout Guide may help you. This guide contains important advice and Cost Benchmarks on both assessing your new office as well as planning for costs.
Of course if you are looking at potential new space right now, please call us to make a time for us to assess the tenancy with you.
The Office Leasing Guide
We are pleased to offer the attached Tenant Leasing Guide as an important tool for you in the search for your new office space.
This guide was prepared by our friends at Rouse Lawyers and can assist you in understanding what may be contained in a new lease document. Should you have any questions, Matthew Rouse and his team would be pleased to work with you on your new office lease.
Contact Rouse Laywers