Questions You Should Ask Your Seat Leasing Provider

By admin@myofficein | Seat Leasing | 0 Comments

Getting the best office space in the Philippines can be a tough journey for businesses and organizations alike. There is a pool of options and the seat leasing and office space deals are too tempting, but getting the best deals for your business does not have to be hard. We listed the following questions that you should ask your seat leasing provider to give you an idea of what to expect and what you get from the deal. Use this as a good checklist to compare providers, services, and pricing.

  1. What’s included in my monthly fee?

Before you commit to anything, you need to know what is included in the monthly fee and be clear of the cost of the agreement that you will sign. Does the monthly fee already include the bill for the electricity and water? How about the internet? What about the workstation equipment like computers, desks, and chairs? Do you need to pay extra for security and parking? These are just a few of the questions you can ask your seat leasing provider. Find out in advance what expenses are included and which are not included as part of your agreement. Check the rates and the break-down so you won’t be taken by surprise after you sign a multi-year lease. Make sure that you know what the payments will be. It is important to note that the deal you are signing up for satisfies not only the needs of the business but also fits your budget.

  1. What are the leasing terms and conditions?

This is also important because this is like the contract between tenants and providers. Always read the fine prints and clarify anything that is unclear for you. You have to be aware of the policies and conditions when it comes to using the service, your limitations and boundaries as tenants. This does not only spare you from being penalized by the providers, but this also sends an impression to the providers that you are clearly not only leasing but you want to keep your office for the full length and cared about the space and the owners.

  1. What services, benefits and features can I take advantage of?

Ask for the specific services the provider can offer. Check if these services are relevant to your business and compare it to other providers. Some office lease in Cebu providers offers staff leasing or administrative staff services. Check if there is IT support available or if the internet connection is reliable enough to meet your business standards. If it makes you feel better, you can ask for a tour in the office space and have a look at the office space, conference, meeting and board rooms, pantry, clinic, parking space.

  1. What businesses are leasing in the office space and how long have they been leasing?

If you see tenants who have been there for quite a long time, that could mean that the provider offers good service. Knowing what types of businesses are in the same building also helps you decide whether the environment is best for your business.

  1. Is the office space appropriately wired for your business and equipment needs?

Renting space in older buildings may be less expensive, but the older building doesn’t always meet the needs of today’s businesses, even when those power needs are certainly high. There’s a possibility that you can’t microwave a cup of coffee at the same time as anyone was printing a document because if you do, it will trip a circuit breaker, and knocked out the power— though new buildings have some limitations too. There may not be appropriate electrical outlets or LAN connections in the office. The proximity may not be suitable for the desk and equipment. If you have to rewire the space just to meet your needs, it can cost you a significant amount of money even for a relatively small office. Therefore, you have to make sure and ask the lease provider before sealing the deal.

  1. How much will the rent increase each year?

Many leases will have yearly percentage rent increases built in. This is something that should be spelled out clearly in the lease agreement. To prevent and keep your rent from skyrocketing at the end of the first multi-year term, check if you can have the lease written with an option to renew, at the same time, predefine the increase rate. If you don’t have an option to renew the lease, a drastic rent increase could happen when you go to renew. That could leave you stuck with either paying the higher rate or paying substantial sum of money to move to another location. Be aware of the lease agreement so that you can determine the budget you have to acquire for the rent increase.

  1. Is there enough space for parking lot?

When you lease an office ask the provider if there is enough space for parking. The parking lot plays a big role in any company because it is a valuable amenity for the employees as well as for the clients and customers. When they plan to pay a visit to your office riding on their car on their way there, they will not worry on where to park knowing that there is a parking space available near your office space guaranteeing safe parking for everyone.

Think of a small building or strip mall, they can’t have or serve multiple customers or houses a tenant with a lot of employees because they don’t have enough parking space for everyone at one time. When your customers won’t be able to find places to park near, there’s a possibility that they will stop coming at you and find a much better place. Therefore, before you sign the leasing agreement check out if there’s sufficient space for parking.

  1. How many cars drive by and are they able to make a turn to the parking lot easily?

If you find out that there’s a parking space available near the retail space next thing to should do is to ask the provider the accurate count of how many cars drive by each day. It is good for you to know the count of cars and if it is consistent during the day especially if on rush hours. If they don’t have this information and since it’s important, head to the area and check out the parking lot on different days and different times of the day to find out how many cars drive by. Counting on your own before signing the lease is a tedious job but this is too big of a decision to simply hope for the best. While you’re in it, notice how easy or difficult it is for automobiles to make the turn to the parking lot. Traffic may deter potential customers or even clients from stopping by.

  1. Who will be responsible for insurance?

If you are signing a lease for office space, we tend to skip over insurance. As a result, a lot of buildings, especially those with several tenants, are covered by insurance policies that are inadequate and overlap. Thus, whenever a major disaster occurs, like a fire, it can take years for the various insurance companies involved to check out the claims and decide where coverage begins and ends. Hence, do not disregard the insurance when you agreed on leasing an office space. Before anything else make sure to ask the provider on who will be responsible for the insurance.

  1. Can the provider offer business continuity and efficiency?

You can discuss with the provider what you are looking for in an office space, like your specific requirements to the internet connection, or you may ask if they have generators for power outages.

Asking these questions will not only narrow down your search for the perfect seat leasing deal and workspace solution but also it helps you decide which provider will you go to. You can also check this list of things you need to consider in offices for lease in Cebu before you seal the seat leasing deal.

The Bottom Line

Business leases have a longer length and are more complicated than residential leases. Therefore, when leasing office space in the Philippines, make sure to ask these questions we have gathered to the lease-provider before you sign the leasing agreement. This should save you from wasting time and money, and nursing a headache.

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