9 Questions To Ask Before Renting A Commercial Property In Singapore

By Paul watson 2 years ago

New businesses must be mindful of how they spend their money. They need to check everything that can make them save money and ensure that they are not overspending their budget. And if you are planning on upgrading your company but do not have enough room for your employees yet, search for space for rental in Singapore. Many are available to contact online, but not all are considered legitimate or reliable. Be cautious about who to trust, especially when visiting the place. You might get into danger, so it is better to be with someone.

9 QUESTIONS YOU NEED TO ASK BEFORE RENTING A COMMERCIAL PROPERTY IN SINGAPORE

If you want to buy something online or get the service of a company, you need to know about them before trusting them and dealing with them. You will learn about the business by searching about its background, the reviews and ratings given by its previous customers, and how they present itself to its clients. Another way is to ask questions about them and their service. People who search for a commercial property in Singapore can ask questions, and here is a guide:

#1. HOW MUCH DO I NEED TO PAY IF I RENT THE AREA?

You need to ask this question, even if you are not on a tight budget. This query helps you see if the property is worth your money or not. If the price is not within your budget, consider looking for another property or a space rental you can visit. New and starting businesses might sacrifice their comfort for the success they want to reach in the future. But if you have enough budget for the workplace, asking this question could be unnecessary.

#2. IS THE PARKING SPACE ENOUGH FOR EMPLOYEES?

Some employees might bring their vehicles to go to work. You can also do the same if you do not want to take public transportation or get a ride. However, the parking space should be enough for the employees in your company. Since other firms rent in the building, they might also get parking spaces for their workers. Be precise about the number of people in your company who will bring their cars. Once you finalise it, give it to the building owner and check if there are enough parking spaces for your employees.

#3. CAN I CHANGE THE DESIGN OF THE OFFICE?

Since you will rent the office, ask the building owner for their consent to change the design of the place. You can decorate it the way you want with the permission of the higher-ups. Once you get their approval, search for interior designers you can hire to see what designs are best for your workplace. It must be cosy and comfortable enough to improve the mood and productivity of your employees. Do not forget to ask this question if you are looking for a space for rental.

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#4. WHAT RULES AND REGULATIONS DO I NEED TO REMEMBER BEFORE USING THE SPACE?

Rules and regulations apply to anything that you encounter in businesses. And it is not any different when looking for commercial properties. You need to know about them to understand your limitations when renting a space. Also, check if you can abide by these rules and regulations and see how they can affect you in using the office. Checking this will help you know if you will rent the space or not. If everything works for you, sign the contract with the building owner.

#5. HOW LONG IS THE CONTRACT EFFECTIVE?

You must know how long the contract is, knowing that it is where you will see if the amount you paid for the property is worth it or if you need to look for another building where you can transfer your business. Commercial property in Singapore is functional depending on the deal and contract between the occupant and the building owner. If you want to extend your stay, inform them months before the agreement expires.

#6. WHAT ARE THE THINGS I SHOULD NOT MOVE?

Some commercial properties already have furniture and appliances. Some building owners let the new occupant move them wherever they want. If the lessor permits this, you can save money and buy your things. But if they do not match your theme, ask the building owner if they will allow you to move the furnishings to other spaces. Before doing anything, ask this question first to avoid conflicts with them.

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#7. WHAT ARE THE NEAREST LANDMARKS IN THIS LOCATION?

Ask the building owner about the nearest landmarks to make the rent worth it. You must see malls or restaurants nearby to go somewhere during your break or after work. If your employees do not want food in the pantry, they can visit somewhere that will give them more options for their lunch. You can also go there if you have business meetings or other matters that concern your company. Do not forget to ask this question if you will get a space rental.

#8. WILL THERE BE RENT INCREASES YEARLY?

If you are sharp about the money spent on your business, asking this question can help you clarify the rules regarding the rent increase. If there are increases yearly, you need to get notified about them. It prepares your budget for the next year and ensures that staying in the property is worth it. If not, consider looking for other spaces near different landmarks. Do not forget to ask this question if you want to make your travel shorter from home to work.

#9. WHERE ARE THE EMERGENCY EXITS OF THIS BUILDING?

Accidents happen, and no one knows when they will occur. So to prepare for those instances, ask the building owner about the emergency exit of the establishment. You can check them before having a deal with the owner. Commercial property in Singapore must have them and all the buildings you visit.

Asking these questions to the building owner can make your search for a commercial property in Singapore easy. You can clarify your concerns about the establishment and see if you can live up to them. Learn more about rentals and properties by visiting the website of LHN Group.