9 Types of Office Rental Costs Customers Need to Know

Let’s refer immediately to synthesize 9 types of office rental costs you need to know to plan the most reasonable office rental cost with your company’s needs and budget through the following article.

1. Office rental Costs

The first kind of expense that every business knows is office rentals. Office rental price is calculated by the number of square meters that your business rent. The office rental price list depends on the location, grade of the office building, services, utilities, … Office for rent in District 1 is favorable for all activities, and transactions of the business will be higher than office. The room is located in the fringe districts of Ho Chi Minh city center.

2. Building management fee

Building management fees are also fixed monthly office rental costs that businesses have to pay. The management fee is also calculated by the square meter that the business leases. Depending on the quality as well as the services and facilities attached to the building, the management fee will vary. This fee will be paid for services at the building such as:

• Reception in lobby.
• Security system, protection.
• Cleaning services (daily cleaning, periodic insecticides, …)
• Common drinking water.
• Common area electricity bill (for lighting equipment, camera, common area air conditioner, elevator).
• Building maintenance costs.
• Some other costs are according to the policy of each office building.

3. VAT

The office rentals and management fees usually do not include VAT. Therefore, when calculating the total monthly fixed rental price, businesses also need to add 10% VAT. These costs are usually paid monthly, quarterly, or annually depending on the property’s regulations or a mutual agreement.

4. Electricity and water charges Costs

In-office buildings for lease, the cost of water and electricity in the common area is usually included in the monthly service charge. Therefore, businesses only need to pay monthly electricity costs in the office.
According to statistics, in fact, companies often have to pay (if any) the average cost of air conditioners from 1 – 1.5 USD / m2 / month depending on the length of time used, the brand of air conditioner, the old and new of it. Therefore, when renting an office, customers also need to pay attention to the quality as well as the power consumption of the air conditioner. Should choose the office using good brand air conditioners, energy saving.

5. The cost of parking

Currently, some buildings have a policy of free parking for employees and customers. However, the majority of office buildings for lease in HCMC do not have this policy. The rental price as well as the number of parking spaces for each business depends on the class of offices for lease, the leased area as well as the number of employees.

6. Overtime expenses

In addition to the costs that need to be paid monthly, the overtime fee is also a fee that businesses need to consider. Currently, there are a number of free buildings that work overtime. But for the most part, the buildings have regulations on administrative time, overtime working time. This cost will be calculated when businesses work over the administrative time.
This is the office rental fee that the customer pays for arising costs such as: electricity for the elevator, electricity for the common area, WC water, overtime salary of the building operator, the system. Central air conditioning. If you do not use air conditioning, overtime costs are completely free in some buildings, and still charged in others.

How to calculate overtime fees

Currently, according to statistics, office buildings for lease use 03 methods of calculating overtime fees as follows:

• Calculated by company fixed. All tenants apply the same rate per hour.
• Calculated according to the rental area of the business.
• Calculated according to operating equipment when businesses work overtime.

For businesses with late working hours or often need overtime, it is advisable to negotiate with the building owner to get the most reasonable office rental cost.

7. Service fee during interior construction

Buildings often have a free rental of 7 – 30 days depending on the leased area for customers. During this period, the building usually charges only a management fee. You should talk to your office leasing agent for the best time.

8 . Site reimbursement costs

In-office lease contracts, there are provisions: Upon termination of the contract, the lessee bears the cost of returning the site as received from the building owner minus reasonable property depreciation.

9. Adjusting the office rental unit price

Usually, offices for lease of office buildings have the regulation that the office rent will be adjusted after 2 years or depending on the volatility of the market. Therefore, customers who need to rent an office should also discuss the rental adjustment.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/9-types-of-office-rental-costs-customers-need-to-know

Read Vietnam Economy Weekly News

Notes When Renting Office

You need to be very alert to recognize the following problems when renting an office and deal with them effectively. It will be very convenient if you use them for the next time you rent an office.

1. Non-specific office lease criteria:

At the same time, the affordability of each business is limited, we need to determine which criteria must be met to meet the most important needs of the business. These are the criteria to be considered but can be ignored. So if there are specific criteria, it can obviously shorten half of the time to find a suitable office.

2. Desire to exceed affordability:

The desire to exceed affordability, or the mentality of “trying a little bit” to find an office for rent is quite common. For those with a rent budget of 12 USD / m2 / month always find the office 14-15 USD / m2 / month is more suitable for them. Because of the quality, class of service than buildings with 12 $ rent. Psychology of renting an office, everyone wants to find a place that is airy, viewable, new, beautiful, cheap … But really according to our many years of experience, every office for lease has its segment, its own price. And if it is cheap, you must accept it is not beautiful, a beautiful standard office must have a high price. The most important thing is which criteria I want to be. So when meeting this mentality, the result is that the process of reviewing and selecting an office is lengthy, and sometimes misses the company’s job.

3. Not planning for staff growth:

The cost of moving offices (furniture, furniture, cabinets, etc.) is quite expensive. Therefore, when businesses decide to rent an office, it is necessary to calculate the lease area in accordance with the plan to increase or decrease the number of employees of the business after 1 year. Otherwise, businesses will fall into the prospect of too many employees, not enough seats, and must plan to find a new place.
The damage caused when the personnel increased too quickly not enough seats:
+ Looking for a new office, it takes time, effort, and work efficiency of employees to decrease.
+ Employee psychology is not stable, affecting employee productivity.
+ Loss of 3-month deposit at the building being rented.
+ Can pay 3 more months if the contract stipulates.
+ Interior design must be removed and disposed of cheaply because when relocating, almost all new furniture is required.

4. Failure to give adequate attention to employees:

When renting a new office, the image, cost, and convenience of the partner are of course to consider. But many businesses do not have the proper attention to the needs of their employees. People who directly generate income for the business. In order to attract talent, create long-term commitment, and increase the productivity of employees in the office, the following issues need to be raised and solved.
+ Is the distance from home to work of most employees too far?
+ Is the working space comfortable and productive? Specifically: The seats are large enough, affected by noise, guests come in and out, have enough document cabinets, etc.
+ Are your rooms arranged conveniently for internal work exchange?
+ Where is the staff for lunch, how is the quality and price?

5. Spend less time reviewing buildings, offices:

There are some businesses that just “see” the office and make a decision. Usually, they spend 20-30 minutes looking at the office building, looking at the leased area, talking to the management board, taking some photos, not taking notes. Feeling like, then move to negotiating and signing the Contract. This way is fast, compact, time-saving, but potentially risky.
In order to fully assess the advantages and disadvantages of the building, of the leased area we should:
+ Develop a set of evaluation criteria based on usage requirements.
+ To spend enough time to review and evaluate.
+ Consult people who know about the building
+ Make a comparison table between buildings.

6. Sign the Offer Letter and transfer the deposit without considering and negotiating the contract:

The order of negotiation for office lease is given by the buildings, including 2 steps: (i) Signing a letter of invitation to rent (Offer Letter), transferring a deposit, equivalent to 01 month’s rent; (ii) Sign the contract and forward a deposit equivalent to 02 months of rent.
The offers usually do not cover all the issues related to the cost of the customer to pay. So ask the landlord to submit a draft Contract and negotiate any costs before transferring your deposit. If you have made a deposit but have not negotiated a contract, your negotiating position will be weakened.

7. Do not measure the actual area when renting an office:

The area given by office buildings is not always accurate, so re-measuring the area is a must. The difference in area increases the cost per month is not large, but for the whole term of the 2 – 3 year contract is a remarkable number. Currently, in some buildings, the actual rental area is still different, so to reduce this risk before signing a formal contract, we should measure the reality again.

8. Finding and selecting a design partner for interior design is too late:

If you are looking for and choosing a partner for interior design and construction early, you will have enough time to choose a business that ensures quality and cost. At the same time, quite a lot of interior design and construction companies are willing to provide free assistance to the layout of the site, the cost of investment. These are two important criteria for you to decide whether or not to rent a particular office.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/notes-when-renting-office

Read Vietnam Economy Weekly News

7 Considerations When Negotiating an Office Lease Renewal

Negotiate for your office lease renewal is very complicated. Hovering over your office land lease is usually one thing: the lease renewal. Unlike residential leases, landlords will approach commercial leases with proposals months in advance of the renewal date. Like residential leases, the terms for the renewed lease include a standard element: higher rates.

1. Don’t Wait Until the Last Minute When Negotiating an Office Lease Renewal

If you’ve ever relocated offices, you recognize the strain and strain it can placed on your people, including your day-to-day operations. Not only will moving offices require substantial getting to ensure your furniture, equipment, communications, infrastructure, and IT are seamlessly transferred, educating your employees on the changes to their commutes, workflow, and work environments are key to a successful move. That said, waiting until the eleventh hour to finalize (or not) an office lease renewal serves no party effectively – including your landlord.

2. Proactively (and Continually) Research Your City’s Commercial land Market

No matter where you’re located, your city is likely experiencing a boom in modern, cheap commercial real estate development – and that’s good news for your negotiations. With numerous new constructions coming online, it’s never been a far better time to see potential expansions or relocations to newer, more desirable office spaces. Do your homework well before and through the negotiating period to seek out out more about your landlord’s competition – doing so can only serve your interests.

3. Consider Your Landlord’s Position

Unless you’re located in a highly competitive coastal market like New York, Seattle, or San Francisco (or have been grandfathered into below-market lease terms), it’s often in your current landlord’s best business to keep you right where you are. However, that won’t stop them from trying to boost your rent during the renewal period. “Fair market value” is a term that many commercial real estate companies use to excuse an increase, but doing your own independent research into your city’s market value is a valuable asset when it comes time to take a seat down and talk together with your landlord.

4. Assess Your Current Needs and Opportunities for You to Negotiating an Office Lease Renewal

Is your company growing steadily? Have profits increased year-over-year? Are your employees comfortable in their current workplace? These are all inquiries to consider when brooding about your options in an office space renewal negotiation. If your current space is suiting your needs adequately, it’s going to not be in your best interests to think about another space. However, if you’re bursting at the seams or your current landlord can’t accommodate growth and expansion, maybe it’s time to seem for greener grass.

5. Don’t Expect Loyalty (or Tenure) Will Buy You an in.

One of the ugly realities of being a landlord in a commercial space is the renewal option, which gives the tenant-right of first refusal on an extension of a previous lease agreement. That binds their ability to plug the space to prospective tenants willing to pay a better rate or a bigger tenant within the building wishing to expand. Approaching your renewal agreement with the duration of your previous relationship, therefore, might not carry the maximum amount of weight as you’ll hope.

6. Counteroffer – and Be Prepared for Theirs

As with most negotiations, one party makes a primary offer with the expectation that their terms be met with a counteroffer. With higher stakes deals like long-term agreements for commercial land, the negotiation and proposal process may take several months, with each side inching closer and closer to a suitable arrangement with each successive offer/counteroffer.

7. Hire a Tenant Rep Broker to Help You in the Process When Negotiating Your Office Lease Renewal

If you and your company aren’t familiar with the commercial real estate market or rental talks (or you don’t have anyone in your company with the bandwidth to properly manage the process), cause a tenant broker to represent your company and walk you thru the method on a uniform basis. It’ll ease your headaches, save you time, and guarantee the process results in a favorable outcome for your company.
However you opt to approach the lease renewal process, it’s important to know current commercial land market conditions and investigate any availabilities in nearby spaces which will improve your company’s workplace and financial situation. The better prepared you and your team are to relocate, the higher your position during the negotiation period is going to be.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/7-considerations-when-negotiating-an-office-lease-renewal

Read Vietnam Economy Weekly News

Tips For Renting a Medium Price Office

There are some tips for those who want to find a good and medium price office, lots of medium office out here that you need to consider before renting it.

What can we do to rent a medium-price office at a reasonable price, suitable location, and adaptive services during this economic time?

An office isn’t only where our employees work but also the face of the corporate. So far Vietnamese land market has been always unreasonable with demand and trusted rentees; therefore renters haven’t had many choices.
Rentees can choose their customers so improving the services is not their priority (except for A-class offices). For renters, nothing but prices and locations are their top concerns as they think services are an equivalent everywhere.
However, the market has already been rotated and balanced between renters and rentees, as during a lot of developed countries in South East Asia and within the world. Thus, renters will have much more choices.
This is an opportunity for B and C class renters to take other factors besides prices and locations into account when choosing an office. This will make office owners pay more attention to increase the quality of the services and offices in this segment.

Below are some tips that renters should consider when choosing a medium price office:

– Lobby design: Is it convenient? Does it usually suffer from traffic jams? Does it have a hall for parking cars and taxis? If their cars or taxi are chased away or fined for incorrect parking before they get off, your customers will not be satisfied and this will affect the proceedings.
– Parking: A lot of medium-price buildings absent parking lots. Therefore, you ought to choose those with enough parking for the workers and therefore the customers. It’s not necessary to elucidate how irritating and time-consuming it’s for them when not having a parking zone.
– Central air conditioning system: Is the building cool enough? Is the air fresh? Is the operation fee incorporated within the rental and repair fees?
– Elevator: Are the elevators for the office area separated from those of the residence? In many cases, the elevators aren’t distinguished so office employees are threatened when sharing them with people that live there. You absolutely don’t want your people to involve in such a situation.
– Windows: Are they tight? Can rain flow in? Are they drafty in the winter? Are there 2-layer-glass windows? For example, people that want to rent an office within the “Disaster” say that when there was an important rain, the space was saturated and every one the computers, carpets, tables and chairs were broken. It was also draughty within the winter and really cold. You certainly don’t want your office to be like this. You will be wasting money and your employees are reserved when working in such conditions.
– Toilets: Is it clean or leaked? Is the ceiling moldy? In a building where the water system is leaked, the air will get mildew and affect the health of people who work in it. Besides, repairing repeatedly will have a nasty influence on people’s concentrations.
– For complex buildings (which are very popular in Vietnam): Before renting you should carefully google to see if the investors are having conflicts with the residences. Stay away if there are any disputes between them as there are 2 risks when working here:
+ People protest in the hall and even lock the way in so customers cannot get to you for proceedings. This will impact your work.
+ The conflict will be in the news. The bigger and longer the dispute is, the more the news state. You won’t want your headquarter to be within the headlines as when customers read it, they’re going to automatically take you as a negative. This is confirmed by psychologists.
– Investors’ reputation: because of the reason above, you ought to consider the reputation of the investors. If they’re involving in lawsuits, evasion, etc., you would like to remain away because they’re not trustworthy partners.
– Investors’ financial state: you ought to google the financial status of the investor. For example, if the investor of the building you’re getting to rent an office is currently investing in other projects, they’ll get capital immobilization or lost in the short future. Their mortgage is going to be foreclosed or the properties are going to be sold off to pay the debt.
In this situation, you’ll have to move your office. Of course, you cannot be 100 percent sure about the financial state of the investor but avoid as much risk as you can.
– Deposit: Today tons of householders invite 3 month’s rental deposited in cash. However, this is often risky for renters as they can’t get the deposit returned just in case the investor goes bankrupt or is frozen the assets if they purposely break the contract (ask you to move before the due date). Therefore, you ought to negotiate to scale back the deposit in cash. (In developed countries, deposit is usually 1 month’s rental).
If you can’t decrease the cash deposit, you should require to deposit by bank guarantee or frozen account. This is a modern method that should be popularized. Your money is going to be put at a bank, which is safer than investors.
If the renters don’t pay or break the contract, the building owner can attend the bank to invite payment in accordance with the contract.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/tips-for-renting-a-medium-price-office

Read Vietnam Economy Weekly News

A Guide to Calculating Operating Expenses for Your Office Buildings

When considering a billboard office space lease, it’s important to carefully investigate any non-rental costs, what’s included in your rental agreement, and what you’re getting to be liable for on a monthly basis. While many commercial leases are likely to be triple net leases (in which the tenant is responsible for operating expenses on a pro-rata basis in addition to the rental fee), these leases are often extremely varied and up to negotiation, leaving many tenants largely within the dark on what proportion they will expect to spend monthly.

How Operating Expenses are suffering from Different Lease Types

Commercial real estate operating expenses include the costs for keeping and operating a commercial property. These include rentals for office space, storehouse or industrial space, retail, and restaurant buildings. Depending on the lease agreement, you’ll pay a component of the gross rent, additionally to the bottom rent, or be included within the monthly rent entirely.
The different sorts of commercial land lease agreements vary greatly. They are:
Gross or Full-Service Leases – Gross and full-service leases include every operating expense within the monthly rent, including property taxes, utilities, and customary area maintenance (CAM) costs.
Single Net Leases – Tenants pay a group cost for rent, property taxes, and utilities supported some of the space leased within the building. Landlords cover insurance fees and building expenses.
Double Net Leases – almost like single net leases, those during a double net lease agreement pay a percentage of insurance fees and building operating expenses also as all utilities. Landlords cover maintenance for common areas.
Triple Net Leases – Triple net leases involve a part of the prices of property taxes, CAM costs, and property insurance expenses. These are the foremost common and popular net leases for industrial and retail properties because the expenses are supported a pro-rata share, or the quantity of space a tenant takes up in their building.
Modified Gross or Modified Net Leases – A compromise between the requirements of tenants and landlords, these lease types allow rent to be collected during a single payment and including all net expenses while services are covered entirely by the tenant.
Percentage Leases – Require tenants to pay a base rent also as a monthly percentage supported sales. They are frequently used for retail spaces, shopping centers, and malls.

What Do Operating Expenses Include?

Depending on the character of the commercial space and your market, the operating expenses tenants are liable for may vary greatly and should include the following:
Utilities such as gas/electric heating, water, and electricity.
Maintenance costs to stay the building insured, functioning, and structurally sound.
Professional building management fees.
Property taxes (and any increases thereafter).
Costs of supplies, landscaping, cleaning, and janitorial services.
Insurance premiums and deductibles (including emergency coverages).
Labor costs, legal fees, and accountant fees.

What Isn’t Included in Operating Expenses?

Repair costs related to assure damage to the building.
Any interest or chief on borrowed money or debt.
Depreciation on the building.
Any costs related to an infringement of the tenant/landlord lease agreement.
Costs or fees associated with property sale or refinancing of the building.
Penalties related to the landlord’s failure to pay taxes, debt services, or assessments.

What’s Base Year and Pro Rata Share and How Do They Affect Your Monthly Operating Costs?

One of the most important factors in determining operating expenses as a tenant is to research the stipulations of the lease agreement regarding the “base year.” fully service or modified gross leases, tenants pay base rent for the primary year within the property without contributing to the building’s operating expenses.
However, following the primary year of occupancy, tenants pay a pro-rata share of the building’s operating expenses. This is usually determined by the percentage of the building’s space engaged by the tenant, so if you’re taking up 50% of the available space, you can expect to pay 50% of the building’s operational expenses.
Tenants should remember that while the owner is paying the operating expenses for the primary year, whatever annual expenses they incur becomes the annual cap on the operating expenses for subsequent years of the lease. Should operating costs for the year reach $30,000, for example, and your arrangement takes up 50% of the building, your operational expenses for the second year of your lease agreement will be $15,000.

What to seem Out for When Negotiating Base Year and proportionately Operations Expenses

As with every lease agreement, you’ll want to consult your land attorney and broker to make sure you’re informed of each potential pitfall.

1. Deferment of Upgrades and Major Repairs

One of the foremost common ways landlords leverage base year operating expenses so as to urge extra money from tenants afterward within the lease agreement is by deferring maintenance of key systems or upgrades normally included during a CAM expense until after the primary year of occupancy – or maybe longer. If your landlord stipulated that an annual rent increase is a component of your lease terms, the longer these CAM expenses are delayed, the greater the rise you’ll see from your base year operating expenses. During the negotiation process, ask for the history of operational expenses for the previous few years so you can appropriately prepare for a potential hike in operating expenses. Or, even better, negotiate a lease agreement that permits you to request an independent audit of the landlord’s expenses.

2. Variable Expenses and Unforeseen Increases

Another way landlords can squeeze extra money out of their tenants is to charge increasing expenses supported usage – also referred to as “variable” expenses. For instance, if your operational expenses are pro-rata and you’re only occupying part of an otherwise vacant facility, your costs will increase should a new tenant move in during your lease term.
Many tenants prefer to protect themselves with a “gross-up” clause in their commercial land lease agreements. This protects tenants from escalating variable expenses and allows for base year expenses to more closely align with a fully occupied building later on in the terms of the lease.
Managing base year expenses and planning ahead for any potential increases can save you thousands – if not hundreds of thousands – over the life of your lease term. And more importantly, don’t let your landlord dictate the terms of your base year agreement without first consulting your broker and real estate attorney, making sure that your team is up to and aware of base year expenses, potential increase in operational expenses in following years, and how the landlord will handle those expenses. If you’re entering into lease negotiations and things seem to be moving against your favor, it’s probably in your best interest to start considering other commercial real estate space options.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/a-guide-to-calculating-operating-expenses-for-your-office-buildings

Read Vietnam Economy Weekly News

Office Space Leasing Guide: The Trail To Your Office Space Made Simple

If you discover yourself with more questions than answers as you look for new office space, you’re not alone. It can be a confusing and time-consuming process. But we can help. North Forest Office Space focuses on office space for little to medium-sized businesses, which suggests we’ve worked with many business owners, doctors and dentists, and that we know what you’re going through.

First, determine your budget for leasing office space

This ensures that you can provide the spaces you are looking at before you begin. Don’t forget to think about additional expenses which will or might not be included within the lease rate:

• Utilities
• Insurance
• Taxes
• CAM (Common Area Maintenance)
• Internet/phone
• Janitorial

Location is key

You presumably have a neighborhood (or a couple of areas) in mind for your business location. Whether you would like to form sure it’s a brief commute for you and your employees, or on the brink of your customers’ homes, narrow down the areas to think about so you have a starting point. Remember that pricing is often suffering from location – offices within the city can cost quite similar spaces within the suburbs. You should believe whether you would like a highly visible location on a highway, or if you’ve got specific signage requirements.

Get the right size

Office space is usually priced and advertised in square feet, but how much does one skill much you need? It’s hard to work out what size space you would like because some layouts are more efficient than others so you’ll really need but you think that. Start by considering the number of employees you have. How many offices or exam rooms does one need? Will you need a conference room, reception area, copy/file room, etc.? Then check out layouts that provide what you would like, albeit they need a smaller footprint. You also need to consider your business plans, such as expansion in the near future. You don’t actually need to buy more room than you would like now, though, so make certain to inquire about expansion options.

It’s all about your image of office space

Office space is categorized as Class A, B, or C, with Class an area being the foremost luxurious and offering the foremost amenities (and also being the foremost expensive). Of course, some companies will advertise their space as a better class than it actually is, so it’s important to ascertain for yourself. When deciding what sort of space you would like, consider the message you’re sending to those that walk into your office. Do you need to impress clients? Or does one want to point out that you simply are a no-frills sort of company with low overhead? The space you select will assist you project the proper image.

Compare apples to apples.

It is often difficult to match the costs of various office spaces because there are several pricing models that are typically used, and there are variations within those models.
Be sure you recognize exactly what’s included within the lease rate, and invite estimates of costs that aren’t included.

Look before you lease.

When leasing office space, all issues that arise during the tenancy will postpone back to the lease. The time to barter those outcomes is before you sign the lease, not after. Make sure that you simply understand everything in your lease, or consult a trusted professional or legal counsel if necessary.

Important items to know in a lease.

General info – This includes property details, rental payments, square footage, information on both parties, start and end date of lease term, reconstruction work to be done, etc.
Maintenance – this is often where most disagreements occur, so know who’s liable for maintenance and repairs in your office and any common areas. Common Area Maintenance (CAM) is a further cost that’s charged by a landlord for extra expenses concerning maintaining the office building/park. In a gross lease rate and a few modified gross rates, CAM is included. CAM can include routine costs like snow plowing parking lots, also as unexpected costs like repairing or replacing a roof. Although they will vary from year to year if CAM isn’t included within the lease rate, you’ll invite an estimate supported previous years’ rates to help you budget.

Reduce Risk.

Leasing is inherently risky because it spans an extended period of your time, is legally binding, and commits capital over a period of your time. You can reduce risk by preparing for the worst-case and best-case scenarios previous to signing the lease. The worst-case would be needing to terminate your lease, and the best case would be needing more space. Either way, you would be unable to keep things the same, and it would be helpful if your lease provided for circumstances like this for your office space.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/office-leasing-guide-the-trail-to-your-office-space-made-simple

Read Vietnam Economy Weekly News

How to Declutter Office Space to Increase Productivity

Declutter your office space has always been a challenge for any business. amassing miscellaneous things after a period of time is inevitable after all. Documents compile, new office supplies are available to exchange older ones, but the older ones never really leave your space. They end up disordered around the office somehow— either in a drawer or the corner of a desk, and so the cycle continues. Declutter your office makes you feel better when working and even increase your company’s productivity. So that Declutter your office is one of the most necessary things you need to think about.

Efficiency Benefits of a Clean Office Space that You Need to Declutter it

One of the foremost noticeable effects of a fresh-looking and polished office space is a rise in office productivity. Here are some benefits of a clean office space:

1. Promotes focus and efficiency

As the saying goes, “out of sight, out of mind.” With no entertainment in plain view, there won’t be much temptation to think or do other non-work-related things. Keeping your space clean will allow you to specialize in the task at hand and solely add up the items you would like.

2. Maximizes time and energy to try to do things that matter

With just your priorities prepped at your desk and every one miscellaneous items tucked away into designated keeping spaces, there won’t be a requirement to spend such a lot of time trying to find things. You won’t be wasting any time and energy trying to probe a pile of clutter only to seek out it’s not actually there. With proper storage and organization, you’ll know where everything is because everything is going to be where it’s alleged to.

3. Simplifies processes

Similar to improving your work efficiency, decluttering also can simplify processes. Take getting files, for example, they may be normally saved somewhere far from a working space. Putting them somewhere more available not only saves time but makes it much easier to work.

4. Improves employees’ health

A messy desk can lead to stress and lower efficiency because you spend more time looking for misplaced things and information. In line with this, a disordered desk and office space might promote an abundance of unwanted germs and bacteria. Cleaning and decluttering ensure a safer and more functional space for all workers.

Types of Clutter When You Declutter Your Office

Clutter is a jumble of many different things. It are often small items like forgotten accessories scattered across your space, or clunky items sort of a pile of notebooks—both used and unused. It’s important to seem into what quiet clutter there’s in your office. Then you’ll reevaluate their importance to your business, relevance to your work, and employee’s safety and state of mind.

Unnecessary items on your desk

When you look at your desk, do you think some items need to be out in the open or can they be stocked away in a drawer? They may easily distract and engage much-needed desk space. These things are often piles of sticky notes, toiletries, and other personal-care products.

Documents you no longer need or read

Your office reference library may hold a variety of books and miscellaneous material associated with your field. Conduct a daily evaluation of their relevance and use to the corporate. If you discover anything that you simply don’t have an instantaneous use for, get obviate it.

Unfinished projects

There could also be an accumulated bunch of projects that are placed on hold. If they won’t be picked up anytime soon, then it’s best to only allocate a spot for the unfinished projects.

Sentimental clutter

Every employee is entitled to keep some form of reason at their desk for their own wellbeing. However, there may be too much that might settle more desk space than necessary. Allow one item of mushy value per person to motivate them. Let your employees evaluate their items with the assistance of an organization expert.

Potentially useful clutter

For historical purposes, you may keep past projects, records, and so on in the right storage container. Look through them if they’re necessary citations and if not, it’s time to throw it out.

Stocked clutter

There are many things everyone within the office needs, like pens, paper, and other supplies. Instead of letting each person keep all these things, a supply position might be of good use.

Recreational clutter

Some employees may keep recreational items like board games for everybody to enjoy and unwind after work. These are often relocated to an area designated purely for activities and company engagement.

Emergency clutter

Everyone has their own form of contingency items like umbrellas and spare shoes. Perhaps a delegated area for these things would work well.

Unopened documents and packages

Sometimes documents and packages are available but aren’t opened. These may have to be reviewed and discarded after a particular period of your time.

How to Clean & Organize to Declutter Your Office Space

Clearing out the clutter is no easy task, but once everyone takes active involvement then things can flow much faster. Here are a few things everyone can do, big or small:

1. List all your stuff down

Make a listing of everything on a person’s desk. This is an honest start for determining if there are things that will be disposed of.

2. Identify the most important items

Which of the desk items are frequently used? Prioritize their placement according to need.

3. Put things you want to see daily

Allow room for positive energy to flow. In relation to the mushy items on each employee’s desk and inspiration for good work, allow everyone to choose a source of inspiration.

4. Establish an “office flow”

Create space for where things of an equivalent kind go like a neighborhood for supplies, documents, and emergency items.

5. Divide your desk into zones that could help you Declutter your office lots

You may need a fast reach for your most-used items. Keep writing instruments during a cup, documents organized into multi-layered trays, and so on. Remember to limit what’s on the desk to go away more room for straightforward movement.

6. Use organization supplies like boxes of different sizes

Isolate items neatly so it’s easier to find things like papers, documents, office supplies, and many more.

7. Hide the wires

It’s easy to make a mess with the abundance of electronic wires. Organize them creatively with alligator clips at the side of the desk to get them flowing in one seamless direction.

8. Organize documents

Don’t let them pile up on your desk. Store them in a designated filing space or recycle them if necessary.

9. Go paperless

There may be a lot of printed or handwritten documents. Save space and consider adding the data to your computer instead. You’ll free up space and save trees in the process too!

10. Evaluate the relevance of items daily

Look through your desk before you leave and double-check if there are documents or materials you can dispose of or bring home.

11. Make it a habit to clean before you go

It may seem like a small thing, but having a clean desk to come back to the next morning makes a difference. Plus, it promotes a good habit of cleanliness.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/how-to-declutter-office-space-to-increase-productivity

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7 Reasons Why Office Space Location Will Boosts Your Business Growth

Choosing an office location is very complicated. Choosing where to put your operational headquarters is never an easy task, but it has always played a crucial role in achieving your bottom line. It requires tons of consideration, energy, and time. For many business owners, location might be the difference between success and failure.

Reasons Why Office Location Boosts Your Growth

   

1. Brand visibility

Your brand’s visibility goes over your ranking in Google search results or the prominence of your billboards along main thoroughfares. Your office location also plays an important role in retaining and drawing in additional customers.
Sure, your headquarters be located in the heart of a business district, but what if it’s hard to find? Putting your business within the vicinity of major roads that are known to most of the people and maybe conveniently located, can assist you to attract new customers every day.

2. Easy access for customers

Growing businesses know that brand attendance largely contributes to success. You need to be where your customers are and make it as easy as possible for them to seek out you. Businesses that are easily available by car or public transportation have better chances of acquiring and retaining customers.

3. Attracting and hiring talent

Putting your customers’ convenience is vital, but you ought to always place the welfare of your employees at the forefront. Location is one of the elements that draws in skilled and top talents. In fact, location and/ or convenience of commuting is that the fourth out of 5 things job seekers consider before accepting an employment offer.
If you would like to fill your team with hardworking professionals, choose an office location that’s accessible by both private and public transportation. More importantly, fixing your business during a location that’s well-suited to your industry can attract the type of individuals you would like to figure with.

4. Zoning

Some businesses fail to believe in zoning restrictions when trying to find potential business locations. City ordinances and zoning restrictions affect how you run your business since there are policies that may discourage your business operations. They determine what activities are allowable in certain places.
Additionally, some locations offer special government incentives to assist you reduce business costs and taxes.

5. The speed of delivery

The closer you’re to your suppliers, the lower the prices are for his or her delivery, and therefore the quicker your products can get to your customers. Additionally, when you suddenly ran out of supplies, it would be easier and faster to get new stocks.

6. Foot traffic

When location planning, businesses must study the pedestrian traffic around the area. Monitor the ability at different times and days to find out the peak and slow hours. You don’t want your office to be hidden during a corner where potential customers are likely to pass around you, do you?

7. Parking

One of the factors that always gets overlooked when location hunting is the parking lot. Businesses that are thriving because of their location have done their market research. Those that have adequate parking spaces have likely found that a big number of their clients come by car.
The same goes for your employees. Having secure parking areas makes it handier for your employees to go to work. They don’t have to pay exorbitant fees just to be able to bring a car to work, nor do they have to worry about their vehicle’s security. All they have to try to do is come to figure on time and specialize in their daily tasks.

How to Choose the Best Office Space Location for Your Business

Consider the costs

Before you start your search, create a budget plan for this imminent expenditure. This is one of the foremost important factors to think about, especially if you’re a replacement business with financial constrictions. So, what proportion are you able to afford for your company headquarters?
In a nutshell, you’ll want to compute the monthly rent or leasing costs, taxes, average utility expenses, infrastructure and interior modifications, additional upgrades and installations, other building fees, and more. You can reach out to the previous tenants or owners about their average monthly so you can have a rough evaluation of your impending expenses.
Of course, you want to take into consideration that every business has unique operational requirements, therefore the costs may differ.

Look for the space your business needs

Think about what you scheme to use the office space for. For instance, retail businesses need a storefront, and street access is going to be beneficial. On the opposite hand, back-office operations may had best with a versatile workspace that features a few meeting rooms and adequately sized desks for the workers. On average, an office space should have about 194 square feet per employee.
Do also consider the possible growth of your business. You might think it’s sensible to settle for a small space since it might be cheaper, but what if expansion is on the horizon for your company? You must believe how the location can grow together with your business. Otherwise, you might find your company in a restricted space.

Match your brand with the location

Visual aesthetics can help narrow down your prospects. If your business originates a vibrant and collaborative culture, then a traditional space with enclosed offices might be a little off-beat for your company. Perhaps a contemporary style or contemporary building can mesh better with the image you’re trying to portray.
Like it or not, it’s a matter of maintaining your brand’s character within the business world. This is what attracts clients and customers. If you expect to host meetings with clients, you would like to form sure that your office also leaves an honest impression. An exciting and prosperous site that meshes with your brand’s standing can help your business thrive in a competitive landscape.

Check out the neighborhood

Just like when looking for any property, it’s also important to seem beyond the commercial aspects of a neighborhood. Of course, you would like to be situated in a safe environment to make sure that your employees and customers feel safe and secure.
Ask about the rate within the city or district. Check out what the surrounding neighborhood is like. You can also ask other local businesses to understand if break-ins, petty misconducts, vandalism, or other crimes are common within the area.

Choose the Right Spot

Extensive and proper location planning is essential. Not only are you looking for a home for your organization, but you’re looking for a place that can foster your vision and cement the future of your business.
You don’t need the foremost expensive location for your business. You only got to pin down the one that’s situated at a strategic area that may help your business operate efficiently and effectively. So do your research, study your options, and prepare yourself to form one among the foremost critical decisions you’ll ever bring your company.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/7-reasons-why-office-space-location-will-boosts-your-business-growth

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5 Office Management Tips from Experts

Good office management begins with a transparent understanding of what it’s exactly about, so let’s start with this easy definition: Office management is that the technique of designing, organizing, coordinating, and controlling office activities to maximize productivity.

The Experts Have Spoken

No one wants to figure during a badly managed office, which is why it pays to understand what experts need to say about running an office, a corporation, or a business. Here’s what they recommend:

1. Clearly assign responsibilities (even the little ones)

In team sports like basketball, volleyball, and baseball, everyone features a designated role to play. It’s very clear which player should keep the ball traveling or which post a player should occupy to assist the team stay within the game, and ultimately, win.
This is true for the different business units in your company as well. There has got to be some extent person for each task—whether it’s as major as managing a client account or something more administrative like answering the phone—so there’ll be no confusion within the team on who should do what.

2. Always update your business records

Records about your business or your customers should be up-to-date since they’re one of the foremost important assets of your organization. If you kept sending office correspondence to someone who has already left a particular company, it’s impossible for your message to reach or make an impact on the intended person.
That said, you’ll need to invest in software that lets you manage customer accounts and their information, as this will decide your ability to keep your records intact and organized. If you can’t get people to trust your company for the standard of labor or service that you simply need to offer to them, you’ll be exposing your business to irreparable damage.

3. Analyze your office space

You and your employees spend an excellent deal of your time within the office, which is why you would like to form it as pleasing to the senses as possible. The latter isn’t the foremost ideal of situations since negativity among employees can make your office a toxic place for the remainder of the team.
To avoid running into an identical problem, make it a habit to spend a couple of minutes a day walking around your office and observing things: Is there enough space for everyone to move about? Are lighting and electrical fixtures installed properly? Is air circulating well around the office? Then use your observations to draw up plans for any improvement that your office needs.

4. Organize workload

As a business owner or manager, you would like to ascertain thereto that your employees have the simplest working conditions, including a manageable workload and schedule. When employees are overworked, they’re prone not only to worry and burnout but also to increased desire to be isolated from other members of the team.
If you see these signs from your employees, be able to implement some intervention measures. The goal is to improve the well-being of your employees by reducing or removing the source of the problem, but at the same time, keeping the business operations in check.

5. Choose to delegate

Your office will be so much more efficient running like a well-oiled machine if you know how to representative tasks, whether it’s asking someone in your team to stay on top of administrative tasks or requesting an outsourcing provider to assist you discover a versatile workspace within the Philippines.
The key is in having a fanatical person or organization do the items that you simply don’t have the time or expertise to try to do on your own.

Cultivating Good Office Management

The success of your day-to-day business operations depends greatly on the productivity of your office—from your staff performance to your workplace environment and more. It’s always good to possess an outdoor perspective on the way to run an office, beginning with experts in office management and workspace setup. When the physical and organizational aspects of your office as ideal as they can be, harmony and productivity in the office won’t be far behind.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/5-office-management-tips-from-experts

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The Best Time to Start Out Trying to Find Office Space

The best time to start out trying to find office space is hugely hooked into your own situation. Real estate brokers and landlords alike are going to be pushing to shut a deal as soon as possible, but remember one thing: you recognize your business better than anyone else. There’s a particular level of gut feeling that goes into making such a considerable investment. With this guide, you’ll be better equipped to decide when you should begin looking into additional office space and establish a foundation for your company’s future.

When’s the proper time to start trying to find Office Space

The common agreement in seeking new office space is this: you can’t start early enough. Most commercial land transactions take several months and involve a bevy of execs. From building inspectors, local permitting, land brokers, and contractors, you’ll likely be waiting to maneuver into a replacement space a minimum of 3-6 months after you’ve signed a lease.
Even if your company isn’t quite able to enter a replacement space, your sales and growth projections should show exactly when you’ll be outgrowing your current space. Utilizing those figures, you’ll have a clearer picture of when is that the right time to maneuver locations – but that ought to include the search process. Once you’ve hit your goals and have reasonable growth projections nailed down, you’ll want to start out trying to find new office space directly.
Of course, your company’s finances will determine just what proportion you’ll afford, so before you start your commercial land search, it’s important to scale back any financial liabilities on your books. That could include business or personal debts, loans, or lines of credit fastened to your company and its stakeholders.
In order to urge a clearer picture of your company’s ability to lease a replacement property, you’ll want to use a business analyst, a tenant rep broker, and a real estate attorney to assist you negotiate a lease agreement within the future. As for your company’s participation, the simplest plan of attack is to designate a little committee to start checking out a replacement property a few years from a desired move-in date (ideally, this is able to closely coincide with the termination of your existing lease agreement). Set a criteria: desired square footage, budget, lease term, conveniences, nice-to-have features, and essential components for your next space.

How to decrease the Length of the Search Process

While it’s easier than ever to seek out suitable commercial land spaces, the most important deterrent to a speedy transition is that the lease negotiation process. That’s why it’s so important to make your company as attractive as possible to potential landlords. That means getting pre-approved for business loans, establishing your needs and priorities when it comes to a particular space, and showing a willingness to move quickly in order to get a deal done.
Moving quickly requires expertise, and a tenant deputy broker has exactly that. With their experience in the market, relationships with other landlords, and savvy with the transaction process, they should be able to take your lead and get a deal done fast – to your ultimate benefit.
However, an eager potential tenant could show desperation in the eyes of a landlord and could hurt you in the negotiation process. It’s a difficult tightrope, but having several options available to you throughout the negotiations will help with leverage and supply a fallback just in case things go south with one option.

What to stay in Mind While You search for New Office Space

There’s no thanks to tell exactly what your company needs without knowing the character of your business and your culture. That’s why it’s so important to usher in your internal team for the search process. Creating a search committee within your existing organization won’t just be a great asset for you when looking for a new property, but it will create a sense of incorporation in finding your next home.
Aside from the personnel considerations, you’ll want to think about each property that supported your needs. If you merely need an office space, determine what priorities you’d wish to set to enhance conditions for your team and make the simplest use of the available – and hopefully – larger space.
If you’re operating in a specialized industry, search for opportunities within the vacant space to enhance and upgrade to best fit your needs. Obviously, if you’re working in manufacturing, you’ll want space to put in equipment and store your products. But the best option is to go with your interior: does the space feel right? Can you envision working here for several years? Is there room for expansion and growth? These factors don’t always make it on the commercial lease agreement terms, but you’ll know the proper spot once you find it. After all, you know your business better than anyone else.

How to Deal with Your Existing Landlord

During your search process, you’ll want to confer your existing lease agreement: does it contain any language about assignments? What about subleasing? Either terms contained within your lease agreement may contain constraints about your ability to lease your existing space early. However, if there’s no language about subleasing or assignments, you’re welcome to try to do either at your discretion – but this is often rare. Landlords want to regulate the standard of the tenants occupying their space; others will flatly reject a tenant’s ability to assign or sublet a rented space. In some lease agreements, landlords will allow sub-leasing with their consent and approval. If you’ve got an honest existing relationship together with your landlord and have found a subtenant that might suit their needs, you shouldn’t have a drag. Otherwise, you’ll get on the hook for early termination penalties do you have to vacate the property prematurely.
You’ll also get to provide your landlord with a written notice of your move (usually 30 days beforehand and by certified mail). The notice should include the following:

• Today’s date
• Name of landlord
• Property address
• Notice of intent to abandon and at which date
• A forwarding address
• Signature of tenant

Your landlord will likely reply by mail or email and discuss the next steps. Be aware that they’ll want to place the property on the market as soon as possible and start showing the space to possible tenants.

Ensuring a Smooth Transition to a replacement Office Space

If you’ve never relocated to a replacement office before, you ought to know one thing: starting early is your easiest method to avoid headaches. Planning, searching, making decisions, and finally executing the plan could take over a year – and that’s charitable for small-to-medium sized businesses.
The most important part of starting an office move is to communicate clearly and honestly with your team. Not only will this move affect their workspace, it’ll impact their commute and daily routine, therefore the more notice you give, the more excited they’ll be a few shiny new offices.
You’ll need help dealing with the nitty-gritty details of the new space, so recruit some of the more excited employees to help manage seating arrangements, purchasing new furniture, equipment, and decor, and inventory existing possessions that may be obsolete or unneeded in the new space.
You’ll also want to make sure everything is packed, moved, and unpacked consistent with your needs once you get to the new office. Because continuity of business is vital, having someone there to supervise the movers and ensure everything is about up correctly for day one will help avoid a painful first day. Getting necessary base like internet, phones, and cable connected before the move-in date goes without saying.
Lastly, looking back at the old space, hiring a knowledgeable cleaning service will help once you’ve cleared out your equipment and furniture. Any unneeded or unwanted furniture should be donated, recycled, or sold at warehouse auction – and you’ll need someone to assist organize that, too.

For Foreign companies that want to start or expand businesses and look for an office in Vietnam:

CONTACT US

We offer a free consultation to support you to find a suitable Office For lease In Ho Chi Minh:

Phone: (+84) 398 716 459 – Available via Whatsapp/ Viber/ Zalo

Email: contact@lookoffice.vn

Website: https://lookoffice.vn/contact

Facebook: https://www.facebook.com/lookoffice.vn/

Office For Lease at LOOKOFFICE

source https://lookoffice.vn/the-best-time-to-start-out-trying-to-find-office-space

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