Exit, renewal or termination of an office lease
Your Scout Real Estate agent is also here to assist you manage a potential rupture renewal or termination of your office space contract.
Exit of an office Lease
Hopefully for good reasons, you need a bigger office space or maybe worst case scenario you need to move out for a cheaper location or simply close the business.
Breaking a contract is never an easy thing to do!
Unless the property-owner has agreed to a break option in your lease contract, you will have to sacrifice your security deposit and even sometimes additional compensation depending on your tenancy agreement stipulation clauses.
It is then really important to minimize the number of deposit as much as possible and of course avoid any additional compensation clauses inside your tenancy agreement.
Renewal of an office lease
One of China big cities (Beijing, Shanghai, and Guangzhou) main challenge for any companies is that market price for almost anything is constantly increasing at a rapid speed.
For those reasons it is often a big deal to manage while renewing any real estate lease contract.
Even after only one or two years of contract, market prices are extremely different and therefore while renewing a contract, many companies cannot afford anymore the new rental asked by the landlord and have to finally leave.
In order to avoid that situation, it is necessary to obtain a longer lease as well as specify some special clauses inside the original leasing contract in order to protect you while renewing years after for a new lease term.
Termination of an office lease
Scout Real Estate after sales team will be here to assist you in your last days.
If no renewal is plan, then our team will after receiving your moving out confirmation letter tell the landlord of your moving date in advance (2 month) and assist you in your check out:
- Coordinate final bill payments (Electricity, telephone and internet bills)
- Take pictures of the office condition for reference to landlord
- Move out some furniture and plants
- Return all keys and cards to the landlord
- Request security deposit from the landlord
- Collect your mails inside the mailbox of your building
- Inform your lawyer to unregister your company from that current office space
- Advise you where and how to sell some of your furniture or equipment if wished
Any major damage caused during your stay in that current office space (break window, etc) will have to be noticed to your Scout Real Estate agent in advance for him to let the landlord know.