Leasing an office can seem complicated because of the diverse processes and complexities one must consider, especially given the time and financial commitments office leases require. Understanding the complexities of the process and how strenuous this can be, Savills has compiled tips and pointers to help you streamline your office selection process, helping you find a suitable office space in Viet Nam in four easy steps.
Step 1: Define your needs and preferences
The first step in looking for an office is to determine what you need and want in an office.
The size you need: This calculation is based on how many employees you have; however, you must also consider your future expansion plans. Once you know this, you can calculate how much floor space you need. We have detailed the area needed per person below:
- Economical: 3 to 4 m2/person
- Average: 5 to 6 m2/person
- Plush: 7 to 10 m2/person
Budget: There are many costs involved in renting an office, and the initial capital expenses include traditional prepaid expenses, fit out, interior furniture, and equipment, and monthly expenses like electricity and Wi-Fi. Before you decide on the type of office you want, you need to carefully plan your budget and your financial capabilities.
Location: Where you place your office is another crucial factor for business. For example, if you meet your business partners regularly, an office in the CBD area would be ideal. For companies that do not meet with clients regularly or work with remote clients, an office in an outlying district could be ideal. Location will also influence hybrid working or ESG goals. When picking an office, you need to consider if you want a new build or an office that can be retrofitted to meet your requirements. Savills is a pioneer of hybrid and sustainable working in Viet Nam and supports businesses to meet their green targets. Contact us to learn more about our ESG and sustainability support for office tenants.
If your looking for office for leasing, connect with Us:
Find your office here Need us consultant
Step 2: Determine the type of office you want:
There is a plethora of offices for lease to pick from. The two main types include:
- Traditional offices: A lease for a fixed area over a fixed period. These are long-term leases of three to five years. While they require a longer time commitment, they offer the freedom of customisation, which is positive for companies looking to incorporate culture and brand identity within the office of the corporation.
- Serviced Office: A “pre-made” office with preinstalled interiors and furniture. These offices also offer basic services like mail handling, basic accounting, and reception.
.jpg "Savills Office in Hanoi")
After defining your needs, you can start your search for offices for lease. Two useful channels include:
Google: Find information on office spaces for lease on e-commerce websites and reliable property websites like Savills. Reputable websites often have catalogues you can utilise, which include market insights as well as property information.
Connect with leasing companies: Finding a consultant or agency to help you find an office will often cut the stress and ensure success. Reputable agents also often act as tenant representatives, securing the best possible deals for your lease. Learn more about Savills comprehensive Office leasing service.
Step 3: Evaluate the offices you have found:
Before you decide on an office, you should take a site tour and evaluate the office by assessing the following:
- Infrastructure: elevators, parking areas, fire precaution safety, light and air vent standards, etc.
- Building services and amenities: cafeteria area and entertainment area inside the building and surrounding.
- Furniture and equipment quality: This is essential for tenants looking at serviced offices.
- Technical specifications: Tech companies should ask their agent to conduct due diligence to ensure the properties cater to technical specifications like cooling systems or sufficient floor loading for server systems.
- Costs: Tenants should enquire about parking fees and availability, the installation of specialised equipment, and any additional costs like management fees, air conditioning, or electricity.
If your looking for office for leasing, connect with Us:
Find your office here Need us consultant
Step 4: Signing the contract
Before you sign your office lease, you need to examine your contract. At this stage, a reputable leasing agent will support you with the specific details of your lease.
- Rent Amount and Due Date: When rent is due and how and where to pay it. You should know the precise grace period before rent is considered late.
- Maintenance Responsibilities: One of the benefits of renting is that repairs are usually the landlord’s job. But what about maintenance? Anything from mowing the lawn to changing the HVAC filters can be a grey area. As a tenant, you are typically responsible for keeping the place clean and letting your landlord or property managers know if something is wrong, such as a leaky roof.
- Termination and Renewal: Many times, a lease simply ends on the date stated in the lease. Some leases automatically renew unless you give written notice, generally one or two months in advance. Make sure you know, especially if you are planning to move when the lease’s original term is up.
- Subletting: If you are considering subletting your property, you must read your lease carefully to determine if this is allowed.
- Guests: When you rent, you are always allowed to have people over. But many property owners have a specific guest policy. It is common for a lease to limit how long your guests can stay.
- Renters Insurance: Some landlords require tenants to have renters’ insurance. Renters insurance covers your belongings if they are damaged or stolen. Even if it is not a requirement, it is a good idea to have.
CONCLUSION
We hope you found our guide on office leasing helpful.
Savills Leasing Department delivers comprehensive commercial leasing services for both office tenants and landlords. With bespoke services such as tenant representation, workplace consultancy, exclusive leasing agency services, and pre-leasing consultancy, we make finding the perfect office easy.
If you are looking for an office in Viet Nam, contact Tu Thi Hong An at +84 904 272 612
See Futher:
.jpg)
(4).jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)
.jpg)