Office Space For Lease In District 7 Ho Chi Minh: The legal Contract When Renting Office

Wednesday, May 5, 2021

The legal Contract When Renting Office

It is necessary to determine that the upcoming building must fulfill the legal requirements and have a rental function, so here are the legal contracts when renting an office to note.

1. Subject to contract:

1. Subject to contract:
The object of the contract is the office and must have accurate data description of the floor position, length, width, area (shared and private area), equipment (if any).

2. Legal of real estate for lease:

It is necessary to determine that a building to be leased must fully fulfill the legal requirements and have a rental function under the conditions specified in the Housing Law 2014.

3. Legal status of the lessor:

Pursuant to the provisions of the Housing Law and the Real Estate Business Law, real estate transactions and business, especially real estate in social housing projects (including buildings with written rooms for lease), the lessor must be the investor. In case the lessor is not the investor but only the management company, subsidiary, or sub-leasing unit …, there must be a written authorization or lease contract that includes an entitlement clause. sublet.

4. Lease term:

4. Lease term:
Companies often do not want to permanently lease a location, but many office buildings are now not able to satisfy tenants with tenor less than a year. Therefore, the parties need to agree on a reasonable lease term for both parties, and at the same time decide the time for the move after the end of the contract next to the lease term.

5. How to calculate the rent and office area:

It is necessary to determine what prices are covered by the agreed parties and what should not be included in the different clauses.
Many leases offer common ground rent per square meter. This price can be confusing. Sometimes it includes unusable spaces, such as hallways and elevators. In that case, look at the total payable. Sometimes a slightly smaller space at a slightly higher price per square meter may be more efficient for your business, as space is more streamlined and has a higher use-value.
For a short period of time, the Tenant cannot immediately move into the new office. Therefore, to retain the rental position as well as bind to the investor, the deposit is extremely necessary. It should be noted here that the Lessee needs to consider the exact time for moving to the new office to deposit the new position. If during the deposit period, any party violates the performance of the contract, such as the Lessor leases to another person or the Lessee does not come to rent as agreed, the regulation of deposit penalty on the issuing party may apply. violation.

7. Cost and damage issues:

In addition to the fees included in the rental, the Lessor does not have to pay any fees for the lease of the Lessee’s office.
Regarding the damage issue, if the damage is caused by the structure of the office or the technical defects of the equipment including the office rent (if any), the Lessor will be responsible for repairing it. and maintenance. However, any damage arising from the Lessee’s impact during the office lease process, the Lessee must be solely responsible.

8. Transfer issue:

It is necessary to anticipate that, in the future, there may be a need for either party to transfer the Office Lease Contract with a third party. Therefore, whether the term of the assignment is accepted by the other Party and if so, what conditions should be attached (Price, lease term if any, subject, meanings obligations and responsibilities between parties…) should be clarified in the contract itself.

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