A Tenant's Responsibility when Moving Office
Whenever a business ends their office tenancy, and takes on a new lease, there are certain obligations and responsibilities they need to fulfill. Some of those responsibilities are more obvious - but others are onerous and will depend on the terms within your lease.
If you are considering moving office, the first step is to dig out and read your existing office lease to find out how much notice you need to give and ensure you can meet your tenant obligations to vacate the property.
Existing Premises
It is usual for a tenant to return the property in the condition required by lease. If you have build in any fixtures to the premises for your own purposes these must be put back to the original condition you found the property in.
The property must be left vacant and you must return all sets of keys and entrance cards back to the Landlord, or their Broker. Utility charges and all other rates and costs relating to the property must be paid by the tenant up until your tenancy ends, whether or not you move out early. Rental payments must be up-to-date or you are unlikely to get your security deposit back, and you may be liable to pay back with interest.
New Premises
Before you sign any lease or agreement relating to a new premises make sure you understand and agree the basic terms of the lease, such as type of lease (gross/triple-net) amount of rent, and the length of the lease. Your Tenant Rep Broker will be able to guide you through the maze of what lease terms are the best option for your situation.
Depending on the details within your lease and the type of space you will be renting. Make sure you investigate who is responsible for these matters:
Repair and maintenance of the common parts within the property, including the heating and air-conditioning. If the space requires modifications, make sure you is responsible for building out those changes, and more importantly - who will pay for them!What utility bills will be paid for by the tenant, and which the landlord will pay.
You are strongly advised to get legal advice before giving notice and in particular, signing a new lease.
Find a Real Estate Lawyer in your area who can help clarify any legal implications relating to giving notice on your existing lease and taking over a new one.
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