You believe you’ve found the ideal office space. It has everything you could ever need and a great price. Now it’s time to sign the contract. But wait, have you read the contract through?
This is the point where a lot of people won’t. They’ll assume contracts are the same for all serviced offices. This isn’t the case at all.
Do You Have a Renewal Option?
Most contracts will have a clause whereby you get first refusal at the end of your agreement. This means that the landlord has to offer the office back to you first before they can start to show other people around.
You don’t want to sign up for a year, take the trouble of moving your business, and then discovering you’re about to be thrown out.
What exactly can you do to your office space to make it your own?
The majority of contracts will allow some limited refurbishment. You have to take into account your needs and ask whether you’re able to do what you like. If you can’t, you’ll find yourself having to stick with whatever is already there.
Do You Have Protection?
You have to know that you have protection against being thrown out. Most landlords will reserve the right to evict you. They need this otherwise people could squat in the offices perfectly legally.
Any serviced offices offering a good service will have a notice period of at least a month. This is vital for giving you the time to find somewhere else and minimizing the disruption to your business.