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Understanding the Lease for Commercial Offices in Gurgaon
As opposed to renting a commercial property, choosing an office for lease in Gurgaon is often the way most companies go. Reasonable, since renting is a short-term arrangement that may or may not suit a business, depending on various factors. On the other hand, a lease is a legally binding agreement that offers a better sense of security and more flexibility.
However, before you can begin exploring offices for lease in Gurgaon, it’s necessary to understand what lies in wait. The following information covers a decent portion of things you should know about commercial leases.
1. Lease Duration
Determine when the lease agreement commences, how long it will last, and what happens if the property isn’t ready by the date of lease commencement. When discussing lease terms, discuss alternatives in the case of delayed hand-over, construction issues, property damage, etc.
2. Total Rent Calculation
Commercial rent can be measured in various manners. Before picking any office for lease in Gurgaon, break down the total rent you’ll have to pay. For instance, ask exactly what will be included in your gross rent.
- A monthly fee, excluding any additional charges for building management, insurance, taxes, etc., or
- Base rent and real estate taxes for the property, or
- Base rent, real estate taxes, and insurance, or
- Base rent, taxes, insurance, and operational maintenance charges for the office space
3. Rent Escalation Clauses
Rent escalation clauses exist to protect landlords against the ups and downs in the real estate industry. It’s open to negotiation. Therefore, sit down with the landlord and confirm the circumstances under which your rent could increase, preferably with a comparable index to ensure fairness in the process.
4. Renewal
When you finally pick an office for lease in Gurgaon, and the lease expires after completing its duration, you won’t retain automatic extension for the same space unless it’s already specified in the lease agreement. A lease renewal also means the rent and terms of the lease are open to negotiation. Figure out what fits your company the best before determining lease renewal constraints.
Looking For Premium Offices For Lease In Gurgaon?
Ideally located in the heart of Gurgaon, the Magnum Global Park is well-connected via metro and highways to the hotspots of Delhi, NCR, and Faridabad. In addition to premium office spaces and fully-automated building management system, this property is adorned with eco-friendly design elements. It’s state-of-the-art office spaces are designed aesthetically and integrated with modern facilities, amenities, and specifications.
Magnum Global Park is a product of Galaxy Magnum Infraheights Limited. To know more about this property or to look at more premium offices for lease in Gurgaon, get in touch with our team.
