Sublease Your Office Space – How to Do It?
Taking an office space for lease is highly beneficial for your business. It reduces investment cost, this is flexible and the benefits are endless. Here we will talk about office space sublease. Sublease is leasing a small amount of your leased office space to someone else. It will make your lease cost easier as you will not have to bear the entire amount. How to sublease an office space? Let’s start.
Check the lease
First ensure that you are allowed to sublease the space. Before you start digging for subtenants make sure there is no legal hassle. Go through the contract thoroughly and explore the legal liabilities. Let an attorney read the contract paper for better understanding the terms and conditions.
Talk to the nearby business
Once you know you are allowed to have subtenants start talking to the local businesses. Do not allow anyone at the office space. The companies around your office might be looking for space to expand their business. You may know them and it is the time to have them beside your desk. It is always better to have someone whom you already know than someone new. There are portals where people post ads for shared office space, you can try them.
Screen the applicants
This is the most important step. You must not want someone at your office with wrong intentions. Next, do not sublease a competitor company. The anchor tenant could have an agreement with the commercial complex specifying that no other company in the same industry will do business from there. Make sure the subtenants have their business running in good condition and able to pay the rent properly because even if they fail to pay you, you owe the entire rent amount to the owner.
Coming to the next consideration, it is always the price. The tenants generally look for a subtenant for cost reduction and shorter lease. It has to be kept in mind while looking for a subtenant. Some leases restrict tenants charging enough for the sublease. You can also request to cover the damage deposit partially during the course when the subtenant is doing business from your rented office.
Terms and Conditions
When you have taken the office space for lease there were certain terms and conditions to follow. The terms cover the potential renovations, terms of lease, utility bill, amenities and office services. Make sure everything you consider important are well-discussed without leaving any confusion behind. You can also hire an attorney to do the paperwork.
Once you have finalized tenants for sublease make sure they agree to all the terms and conditions. Get the papers signs, keep legal papers clear and move in. For finding such an office space, you can contact PC Executive Services in OKC.