Many times finding and renting an office space can be big and costly affairs in cities, especially in metro cities. Office sharing arrangement can be a savior between a group of like-minded people who can come together to share an office space with a primary goal to save costs and make the best utilization of resources (space, workstations, etc.)
This arrangement allows to further sublet a spare space and other resources to others, which brings down the rental and other miscellaneous costs. So the agreement for such arrangements require to have the key clauses with rules for usage of utilities and all resources being sublet
Key points
Purpose of an office sharing agreement
- To use shared office space and other resources among like-minded business or entrepreneur
- To cut down rent, other maintenance cost and operating cost of small business enterprises and startups
What does an office sharing agreement cover?
- Details of all members involved in the agreement
- Contract terms including executable, term period, expiry and notice period
- Explicit important clauses that cover sharing of all resources and utility bills
- Clause for amicable resolution in case of dispute/disagreement
- Rent sharing and mutual consensus for common space
Before executing the agreement
There may be a clause in the master lease agreement that might prevent you to further sublet so please check and always keep your landowner in the loop before executing the agreement.
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