What costs are associated with Leasehold Offices?
The cost of a leasehold or conventional office varies depending on the premises' size, location, and overall condition. The following chart includes the basic costs which a company can expect when renting a Leasehold Office.
| Costs | Description |
|---|---|
| The Lease Premium | Office rental rates. These may be paid every month or every quarter, depending on what the contract stipulates. |
| Business Rates | These are fixed and collected by every city council, and their cost varies depending on the property's value and its location. In some cases, business rates are included in the lease premium, in which case they should be paid directly to the landlord or property owner. |
| Service Charges | These are determined by the landlord and cover the costs of using and maintaining communal areas |
| Operational Costs | These include maintenance, security, and repairs if these are not included in the service charge fee |
| Insurance | Buildings Insurance may or may not be included in the lease premium. Other insurance costs to consider include contents and business interruption insurance. |
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