By reserving office space in Luxembourg or elsewhere, you can firmly plant your company’s flag in a given market. But before you can focus on running your business, you need to know what type of lease you’re signing. What are the different lease options? What are the differences between them? Color Business Center answers your questions clearly and precisely.
The professional lease is an excellent middle ground between the traditional lease and the more business-oriented commercial lease
Liberal arts generally fall under the “professional lease,” sometimes called a “mixed lease.” It functions much the same as a traditional lease with a rent control clause. However, there is no implied renewal of the lease.
Either party may give six months’ notice to terminate the lease. The minimum lease term is six years.
Short-term leases are ideal for new businesses
This lease allows owners to test the waters without making a long-term commitment.
This two-year lease is perfect for businesses that need space but don’t need it for more than two years. Retail and office space leases are included in this category, as are leases anywhere else in the world.
With this type of lease, you won’t have to worry about making long-term commitments. It can be used as a trial and, with the landlord’s permission, it can be converted to a standard commercial lease.
A commercial lease is used in most commercial transactions
Commercial leases, as the name implies, are used primarily for commercial and industrial occupancies. Leases for commercial or office space can be signed for a minimum term of nine years. The automatic renewal gives the tenant a sense of security in knowing that the lease will be renewed at the end of the term.
This type of lease is popular in the Luxembourg commercial real estate market due to its flexibility and affordability given the volatility of the market.
