An office space sharing agreement is a formal binding document reflecting an agreement between the two parties regarding the usage of office space on sharing basis. The tenants or owner can let out their unused office space or workstation to a party willing to co- work through the payment of license fee.
Why should you co-work or sublet your office space?
In order to scale economic growth, the owner can definitely make use of unused office space by letting out to an external party. Apart from that, sharing office space shall bring forth co-working spirit amongst the employees. A formal office space sharing agreement doesn’t necessarily demarcate the area which is going to be used by the sharing party as there is going to be an understanding of the shared usage of for e.g. printer, the scanning machine, pantry, stationary, pantry etc.
How should you go about making an office space sharing agreement?
If you are an owner of a property and willing to share the office space then all you have to do is contact DOCKET TECH SOLUTIONS PRIVATE LTD, BANGALORE. Our team of experts will provide you an agreement which will be customized according to your requirements.
What is the list of things you need to keep in mind?
1. Ensuring the property is held in your name. This is because if you are a tenant then you will need to obtain a formal written consent from the owner to sublet the premises.
2. It is advisable to formulate a non-binding memorandum of understating with the sharing party regarding the terms of agreement such as license fee, duration, the number of employees, understanding over the sharing of electricity, water, rent bills etc.
3. Another important point to keep in mind is that the agreement is going to be formulated as a contractual license and not a lease. This is because the license, unlike a lease, doesn’t mention the areas which are going to be used by the sharing party.
4. Getting the sharing party to an agreement that the license fee shall include all the other working costs too at the workplace such as printing, photocopying, stationery, scanning etc.
5. Making necessary adjustments regarding the start and end of the license period, usage of workstation and flexibility of alteration to the office space at any future date keeping in consideration the needs and preferences of the business.
The final Agreement:
After you’ve intimated to us about all the basic/customized details of office space sharing, we will make sure that you are given a well drafted “Office Space Sharing Agreement” ensuring that all the legal formalities are in place. It will represent the understanding between the owner and the sharing party pertaining to the sharing of office space along with its terms and conditions in a legal language.
We, at Docket Tech Solutions, are committed to delivering one-time customized document at the earliest for the lasting satisfaction of our customers. So, go ahead and order your Office Space Sharing Agreement with us.