Crucial Fundamentals While Leasing Commercial Properties in Hyderabad
- November 1, 2019
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When leasing a commercial property in Hyderabad, one needs to consider various dimensions like tenancy, tax repercussions, business influx, etc.
On the basis of the type of business & understanding between the landlord and the tenant any of the following types of the lease agreement can be entered into:
Also, before leasing a space one must remember the 3 types of leasing options; percentage lease, net lease, and gross lease.
Percentage Lease The occupant pays a base amount of rent along with a percent of sales to the property owner.
Net Lease: Here the renter abides by other forms of payment incurred in using the commercial property, for example, maintenance fee, along with the rental fee to the landlord.
Gross Lease: Per square cost, are inclusive of all types of fees
The foremost thing to learn before finalizing the lease agreement is the locality. One must thoroughly learn about and discover the neighbouring areas, the submarket status, and customer behavior. If your business requires a higher number of walk-ins, then exclusive attention needs to be given to parking services and security management. However, for a manufacturing center, the location network plays a significant role as most of your operations will be dependent on the transport facilities and those who supply. When leasing commercial spaces in Hyderabad, the most advantageous location to rent a commercial space is HITEC City, as it the commercial nexus of the city!
Before the lease and other expenses find a way through, the rent term and beginning should be finalized. The years of initiation and closure of the lease must also be precisely mentioned. The occupant should guarantee that they have the alternative to replenish the rent at the end of the term.
Once the term is precise, the rent and other costs can be adjusted. The deadline dates, type of payment, security down payment and rates of appreciation must be visibly stated in the contract.
The most vital thing you can do is read your commercial lease properly and understand it. This allows you to comprehend what advantages you have, as well as would help you organize for your responsibilities as a tenant.
The security of the office space that you are looking to rent is one of the most salient points to consider. Vandalism, arson and criminal damage are some of the major concerns when leasing an office space. It’s imperative for you and your employees to keep your premises safe. Some of the essential elements of a security system that one must look out for include CCTV cameras, access control systems, door phones, man security, an intruder alarm system. These reduce the likelihood of probable crimes in your office and its vicinity.
If you have the befitting amount of security it is a reflection to your concerned staff that you have taken responsibility for keeping them away from an incident of crime and bearing the detrimental effects of the same.
Smart edifices include technology and many other crucial factors that give solutions to the traditional problems of overspending and any issues incurred during construction and usage. In a smart structure, all the equipment is linked to one another, right from the AC to the security and lights.
It is beneficial to understand the need of the hour, as sustainable commercial offices are better equipped in having an eco-friendly approach to industrialization. These gold-rated buildings cut down on carbon emission as well as costs related to electricity consumption and environmental taxes like a carbon tax.
Employee efficiency is highly dependent on the atmosphere that their office space inhabits, thus is it crucial to opt for a commercial space that is compliant to the needs of the employees.
The space that you are seeking to rent should have social spaces like a community food court and cafes, essentials equipment like ATMs and health centers accessible to all.
Hyderabad is the future centerpiece of the latest commercial development in the country. Its exponential growth attracts numerous business magnates and investors. When leasing a commercial property in Hyderabad, HITEC City is the most viable location as it has great connectivity and numerous effective office structures. One of these prolific edifices is Aurobindo Realty’s Galaxy and Orbit, the tallest commercial building in India made with precast technology. They come equipped with a varied list of amenities like 1000 seater food court, cafes, ATM services, Health Club & Gym, 100% Power Backup, Green Landscape, creche, and other such modernized facilities. Moreover, Galaxy is a pre-certified LEED v4 gold-rated building by the USGBC, and Orbit is proposed for LEED v4 gold rating by the USGBC, as they foster a sustainable workplace environment.
Whether one is new to the city or already residing there, Galaxy and Orbit are the most profitable assets for capital appreciation and returns.
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