Looking for a co-working space in Gurgaon? Well, hold your horses, because you need to stay steady when looking for working space for your business or startup.
A recent article by the Economic Times states that there are around 400 co-working centres across the country today, compared to just 30 odd centres in 2010. All of these collaborative offices have seen incredible growth all over the world, but the concept is still relatively new in India, making it all the more popular in the pan-India start-up community.
Because of the flexibility that these centres afford, they are quite easy to get into and have almost no exit barrier, assuming that the tenant understands exactly what they are getting into before signing that agreement for a co-working space in Udyog Vihar.
Let us go through the pointers that one should consider before signing an agreement for a co-working space in Gurgaon:
Security Deposit
If you are an emerging entrepreneur, the possibilities are that renting a workspace is perhaps going to make the biggest hole in your pocket, not to mention the tight cash flow that you may have to maintain. Renting almost any real estate comprises of maintaining a security deposit where you don’t even earn any real interest on the amount, and so it is in your best interest to have it at a minimum amount. The security deposit usually ranges from one month to three months’ rental amount and always comes tax-free.
The Nature of the Agreement
The agreement for a co-working space in Udyog Vihar is almost always a leave and license arrangement. Well, there is a difference between a lease and a leave and license agreement. The former encompasses leasehold rights within the premises, while the latter only provides you with permission to use them. However, the ownership, control, and rights of the cabin will always vest with the owner. But you, as a client, can utilize the services. The agreement must also clearly state the duration and validity of the service agreement.
The Insurance Factor
As a client, you are always better off arranging insurance for your property and any assets that you may bring into the center, and you need not insure the premises or anyone else’s property. They will take care of it on their own. It is highly recommended that the centre maintain proper CCTV recording and have decent access control and security installed, something that you might not find in the agreement of your co-working space in Udyog Vihar.
Property Usage
This is perhaps one of the most essential points, and it should be laid down clearly in a fixed arrangement, mentioning the access timing of the workspace and days of the week. Additionally, the agreement should mention internet access and usage, including the policies to curb illegal downloads or infringement of copyright or trademarks.
The Due Date and the Notice Period
It is always satisfactory to get into a lease agreement, wishing all well. However, sometimes things don’t go your way. Hence, it is essential to keep in mind the monthly membership due dates, usually the 1st of each month, or any late payment charges applicable. Moreover, one should also know the way out, generally serving a month’s notice period.
Remember that although there is no single silver bullet that will assist you in cutting, all the above pointers will undoubtedly cover you from many potential headaches. It is always recommended to go through the full agreement, or it would be even better to seek a lawyer’s opinion.
Binita Kalpit is a #Digital #Marketing & #blogger. She likes to share interested posts related to latest fashion, finance, health, amazing shopping and technology.
