Terminating your Office Lease
Giving Notice on your Office Lease
Whether you are coming to the end of your office lease, or you want to exercise early termination, you will need to ensure that you give adequate and correct notice on your office lease to your Landlord. This article tells you what you need to consider when terminating your office lease and how to exercise notice correctly.
Check your Office Lease
The first step is to dig out your office lease and find the clause relating to Termination. This will set out the guidelines about how much notice you need to give and how it should be exercised. Most office lease terminations require notice in writing (even if doesn't, it's best to set out your intentions in writing to avoid any uncertainty or disputes further down the line).
Letter of Termination to your Landlord
Your letter of termination needs to include the date by which you intend to move out, detail any retrofit you plan to do to put the property back in its original state, and list the dates you are switching the utilities over to the new premises.
Retro-Fitting
Discuss with your Landlord about how he/she wishes you to leave the property. Most leases specify that the property be left in its original state, but it's worth checking with your Landlord before incurring any costs.
Arrange for Check-Out
Ask to schedule a walk-through of the property with your Landlord (or their appointed Broker) to inspect the property for damage and arrange for the return of your Security Deposit.
Top Tip:
It's well worth discussing your office lease termination with a Real Estate Lawyer, and getting their advice about the correct way to terminate your office lease. Doing so will protect you from any disputes further down the line and avoid any delays to your office relocation.
For more information on planning your office move download the free Office Moving Checklist. It is a definitive To-Do-List that will guide you through each step of your office move.
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