Space Audit

Identify Your needs

Table of Contents

Leasing Guide

Here is a general leasing guideline for office spaces in Hong Kong:

  1. Determine your requirements:
    Before starting the leasing process, identify your specific needs such as the desired location, size of the office, layout, amenities, and budget. This will help you narrow down your options.

  2. Research the market:
    Familiarize yourself with the current office rental market in Hong Kong. Explore different districts and understand their rental rates, vacancy rates, and availability of suitable office spaces. It’s also important to consider factors like transportation, nearby amenities, and target clientele.

  3. Setup Time Line
    Setting up a timeline when looking for an office is important. An efficient timeline allows you to plan and allocate sufficient time for each stage of the office search process. It helps you stay organized and ensures that you have enough time to research, visit potential spaces, negotiate leases, and complete the necessary paperwork. 

  4. Engage a real estate agent:
    Consider enlisting the services of a reputable real estate agent or property consultant who specializes in commercial leasing. They can help you navigate the market, identify suitable properties, negotiate lease terms, and handle the paperwork.

  5. Property viewing and selection: 
    Visit multiple properties that meet your criteria. Assess factors such as the location, accessibility, building quality, floor layout, natural lighting, ventilation, and overall suitability for your business operations.

  6. Lease negotiation:
    Once you’ve identified a suitable office space, negotiate the lease terms with the landlord or their representative. Key aspects to consider include the rental price, lease duration, rental escalation clauses, rent-free periods, security deposit, maintenance responsibilities, and any additional charges (e.g., management fees, utilities).

  7. Legal review: 
    Seek legal advice to review the lease agreement before signing. Ensure that you fully understand the terms and conditions, rights and obligations, and any potential liabilities. Make sure the lease agreement protects your interests and covers important aspects like termination clauses, renewal options, and dispute resolution mechanisms.

  8. Fit-out and customization: 
    Discuss with the landlord or property management about any necessary fit-out works or customization of the office space to suit your business needs. Clarify who will be responsible for the costs, timelines, and approvals required for any modifications.

  9. Move-in and handover: 
    Once the lease agreement is signed, coordinate with the landlord or property management to schedule the move-in date and complete the necessary handover procedures. Ensure that any agreed-upon repairs or refurbishments are completed before occupancy.

  10. Ongoing management: 
    Throughout the lease term, maintain a good relationship with the landlord or property management. Communicate any maintenance issues promptly, pay rent on time, and comply with the terms of the lease agreement.

     

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