Hidden costs of a commercial premises

Before an entry for pre-leased property in New Delhi, an assumption is that the amount of money you for the lease should suffice. Hold on! Leasing space can add up to other costs. Hidden costs are there and if you do not review pre rented commercial property for sale in New Delhi may haunt you later. The hidden costs have a bearing on commercial office lease.

Upgrade and improvement costs

Before you step into a new office, some upgrades or improvements are suggested so that the premises are up to the standards. If landlord allows for such improvements these are not included in the cost of lease. Simply you need to pay for the upgrade or improvement costs from your own pocket. This is a pointer that you need to be aware.

Maintenance costs

Commercial tenants each month have fixed operating expenses. Expenses in the form of shared office space, electricity bills are to be seriously considered by a tenant. All these operating costs add up to the overall cost of lease.

Maintenance costs along with increase in tax rates

Once a lease is signed there exists a condition in relation to the maintenance or tax costs as part of the agreement. In addition there might be a clause related to increase tax or maintenance costs. It could be the rise in tax or maintenance costs that an owner sees and wants to pass it on to a tenant. It is normally a common inclusion, and most times the tenant is caught unaware if they are new to the concept of office leasing.

Pre-existing costs

The concept of pre-existing costs is of paramount importance if the terms of lease are changed midway through a contract. In many situations the landlord would want a tenant to return the property in prior state when they move out after completion of an agreement. This could mount to a considerable cost, if you have made a lot of changes to the office premises during your leasing time. Be aware that your account for such costs and figure out whether such pre-existing condition is part of your lease agreement or not.

These hidden costs could pop up and surprise a commercial tenant. It is not necessary that they will be part of a lease agreement. But the onus is on an individual to see whether it is part of a lease agreement.

To conclude search of an office space appears time consuming to most of us. If you have been part of this process earlier it may sound tedious. If you are new to this process you need to be aware that there are a lot of things to keep in mind for a proper office space. The industry that you are part of will estimate the exact amount of working space you need. There are some business in order to operate properly need a certain amount of space. In this regard industry standards would be of considerable helpinĀ  estimating the correct amount of space needed.

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