Leasing an entire floor in an office block is a lot easier than leasing the entire building when you have a restricted budget and limited space needs. You may not need an entire office centre, just a small part of one. This is why the lease for a floor in an office block exists. If you are having trouble understanding how it works, just think about leasing a room from a landlord. You are not letting the entire house but a room or set of rooms as in a lodger agreement. Basically, your landlord for the office block is going to retain possession and therefore have certain additional rights than they would if you rented the entire building.
How a lease for a floor in an office block works is that a tenant is responsible for the entire floor. This means they must clean the floor, bathrooms on that floor, and maintain the floor. There are certain things the landlord would be responsible for such as the elevators, community areas, and the exterior of the building. Technically a lease for a floor in an office block is meant for a full repairing of one or more floors. The terms are often shorter and less valuable during the rental period because the structural and external aspects are in the hands of the property owner.
Any damage to the structure or external area of the building, repairs, or cleaning will be on behalf of the landlord. However, if the landlord incurred these damages as a result of the tenant they can ask for recompense regarding the tenant responsible for the damage. The landlord can also recover costs through service charges in the rent for this upkeep. The tenant is fully responsible for the internal section of the offices regarding the floor or floors they are renting.
Common parts can also be assigned to the tenant in the lease agreement. For example, the lobby, bathroom, closets, and other little areas could be the responsibility of the tenant. It will depend on how the lease was designed by the landlord and tenant. In the lease, the landlord is protected from repairs within the floor or floors. Likewise, the tenant is protected for external or structural damages as mentioned before. The landlord is also protected from defaults on the rent when a lease for a floor in an office block has been signed.
If a company is too small to purchase an entire building the lease for a floor in an office block can be the more affordable option. The lease doesnâ€™t even have to be for a whole floor. It could also be for a suite of office sections. For instance, a floor that has five suites of offices could be rented out to multiple companies. In this instance, the tenant would be responsible only for what is inside their suite and not any community section on the outside of the suite. The exact obligations of the tenant and landlord will be explained in the lease.
We offer the legal document template you need for the lease for a floor in an office block. The information and covenants to assign a lease will be included in the download. Our site is meant as DIY for legal documents. Therefore, they are easy to download, understand and use. In fact, all of the legal information is in easy to understand English for both parties. It is still very legal in a court of law as the document templates were drafted by a solicitor. You will have to sign the documents as well as the other party involved to make it a legal agreement.