Office Lease Agreement

office rent

Option To Renew

In the initial tenancy, most landlords usually grant tenant an option to renew for a further term of similar duration at a rent either agreed upon by both parties or at the prevailing market rent rate at the time of renewal.

Lease renewal for 1 to 3 years is market practice. Caution is needed in drafting the revised rental clause for the option, usually worded "at a rate to be agreed" or "at market rate" with no provision to settle any disputes over what fair rate is then.

Office Space Sub-lease

In most lease agreement, sub-letting office premises is not allowed. However tenant may request or seek approval from Landlord for partial sub-letting. Alternatively, subject to Landlord’s approval, tenant could find a replacement tenant to take over the lease. This is on a case-by-case basis.

Mobile: +65 9617 1116 (Joseph) | Email: leasing@OfficeWise.com.sg
Singapore Office Rental and Lease Specialist

OFFICE LEASE INFORMATION LINKS

Disclaimer: The above has been prepared solely for informational purposes. It is not an offer, recommendation or solicitation to buy, sell or lease, nor it is an official confirmation of terms. It is based on information generally available to the public from sources believed to be reliable. No representative is made that it is accurate or complete. Price, rate and availability are subject to change without prior notice.