A Guide to Securing Your Commercial Real Estate
With a much bigger space and higher rental involved, renting a business office in India is a big investment. In fact, it will be one of your first big business-related investments and it is important to choose the right commercial property.
What You Need to Know
Before you begin renting a business office in India, there are some key facts you need to know:
- Lease terms go on for much longer compared to residential rentals.
- The agent’s fees will be higher compared to residential rentals.
- Commercial agreements are either B2C or B2B.
- You must do your due diligence before signing any kind of contract
- You must obtain the necessary permits if needed.
- You will need to be conversant with India’s local laws.
Because there can be quite a few complexities involved, investors prefer to enlist the help of a reliable agent to help them secure their property. At 3E Accounting, we are all-service incorporation and company set up a company and we are a full-service professional firm too. We will guide you to the property that is best suited for you and the needs of your business.
From a legal perspective, it is a very good idea to enlist the help of a professional firm like 3E Accounting. This is because understanding what is involved legally will help you stay away from costly mistakes.
How to Secure and Rent Your Business Office
Securing your first piece of commercial real estate can be exciting! This is the start of your brand-new business adventure. Renting a business office in India is going to involve the following steps:
- Ensure You Validate Your Title Ownership – Double check the details that are filled out for the ownership of the property.
- Check the Occupation Certificate – Before you sign your lease agreement, it is always a good idea to check the occupation certificate, especially in a built-up property.
- Check Your Agreement – Go through your rental agreement and make sure that the agreement is appropriate based on your operations.
- Verify Mortgage and Income Tax – Verify the landlord’s background income tax before you sign your rental agreement. Since it is a commercial agreement, double-check that there are no outstanding or pending disputes.
- Conduct A Background Check of the Property – Together with the help of your agent, conduct a background check of the property you plan to rent. It is also a good idea to conduct a background check of your chosen property agent to ensure they can deliver on what they promise.
- Register Your Property – A rent deed that is more than a yearlong needs to be registered. This is a requirement by the Transfer of Property Act.
Need Help Renting a Business Office in India? That’s What We’re Here for
Need a hand finding the perfect property to rent for your business? 3E Accounting is here to help. We do everything from start to finish to make your job easier. Our priority is to give your business the best start in life and the first step comes with securing the perfect office for your business.
For more information about our range of services, contact the 3E Accounting team today.