When you’re using a property for commercial purposes, it is covered under the laws of commercial renting. If you’re thinking of investing in commercial property, know the property laws of lease and sale before you finalize any contract. It will help you take sensible decisions without losing money en route!
What to know before Commercial Renting in India
1. Track the Lease Payment Calculation
Often, commercial property rents are not fully disclosed. To avoid getting ripped off in a property deal, you must trace and track the complete blueprint of the lease beforehand. You must also attest the same (sign it) when receiving it from the commercial real estate agent.
Knowing the precise calculations on lease payment calculations will avoid the agent inflating the prices erratically in the future.
2. Confirm the Availability of the Space
Another important part of renting an office space in India is the accessibility. Often you might pay rent for one year in advance and still face problems with the builder for 24 hour access.
Choose an agent who offers flexible tenures and 24 hours accessibility into the office space in case you’re opting for coworking office spaces to rent in Bangalore. If you’re a startup lack of accessibility can threaten the spine of your business.
3. Cross-check the Reputation of the Commercial Real Estate Agent
Next, you must ensure that the commercial property you’re renting is offered by a credible agent. It is important to check if the commercial real estate agent has been involved in scandalous or fraudulent deals in the past. It will help you prevent making costly errors in your office space investment in India.
Don’t forget to contact the previous clients of the agent to ensure you’re working with a professional.
4. Ensure the Property is Viable
If you’re looking for an affordable office space to rent in Bangalore, it is important to estimate your total costs to setup the office. The same is why, you can avoid investing on desks and computers from scratch by choosing a coworking office space.
We provide AV equipment, premium quality WC (male and female), board rooms, video conferencing, IT support, reception services and even janitorial services for startups interested in coworking setups. Choose an office space that helps you grow than shrink as a business.
5. Assure the rent hike and hidden costs before commercial renting in India
When you’re striking a deal, it is important to ensure that all the commercial renting lease is clear. To do so, get the rent hike for the next ten years written by the agent or the builder. This will help you assess long term costs for your commercial renting.
The Real Estate Expert Says …
When you’re finally done assessing the agent and the office space to rent, it is important to consult a lawyer to reassure your confidence in the contract. Experts recommend you to work with reputable builders to avoid losing money when you’re commercially renting in India.
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