Each tenant's requirement is unique but the steps involved in securing office premises are typically as follows:
Step 1: Briefing
Intercity conduct a detailed discussion with the client to determine the nature of the requirement. Search criteria may include:
- Quality of Building
- Size
- Location
- Budget
- Technical specifications
- Timing
- Proximity to MTR or other transportation services
- Car Parking
- Other facilities
Step 2: Reporting and Initial Selection
Based on the requirement brief, Intercity provide the client with a list of available units from our computerized database. In consultation with the tenant, a list of potential property options will then be drawn up together with an indication of the likely achievable leasing terms being provided in each case.
Step 3: Inspections
Based on the initial selection made by the tenant, Intercity will arrange an itinerary and transport, if required, for site inspections.
Simultaneously, it is advisable for the client to employ the services of an interior designer to provide initial test fit plans and technical input.
Step 4: Negotiation
Once the final shortlist has been agreed upon, Intercity conduct negotiations with the prospective landlord(s) and issue "Subject to Contract" Letters of Offer to the landlords until the principal leasing terms are agreed for the preferred real estate option.
As negotiations reach a conclusion, the client's designer will prepare detailed layout designs which will eventually be submitted to the building management of the chosen premises for approval.
Step 5: Documentation
At this stage, the tenant may receive a formal binding Letter of Offer, or Booking Form from the landlord of the selected premises. This requires the tenant's signature and company chop or stamp for acceptance and is to be returned to the landlord with part or all of the security deposit being payable.
The tenant and the landlord will then proceed to the execution of the Tenancy Agreement. The Tenancy Agreement will usually be registered with the Government if the lease term is greater than three (3) years. Legal fees are to each parties account and Stamp Duty is borne in equal shares by both parties.
Step 6: Handover And Fit Out Of Premises
On the Lease Commencement Date, the landlord will formally hand over the premises to the tenant. The client is advised to bring their interior designer or fit-out contractor to examine the premises to ensure that handover condition is as per the Letter of Offer or Booking Form. Once the handover is completed, the tenant may commence fit-out work, subject to the prior approval of plans by the building management.
Step 7: Move-In / Reinstatement Of Previous Premises
When the office fit-out is completed, the client moves in to the premises. If they are relocating from another office, they will typically be required to reinstate it back to a "bareshell" condition.