There are a number of options to choose from if you need to lease an office in Luxembourg. What do the different forms of lease represent? What exactly are the characteristics of each one? Here is an explanation of the most important details.
What you need to know before signing a professional lease
The professional lease is the most typical contract found on the rental market. But it’s not a contract that’s right for everyone. In fact, this type of lease is useful for non-commercial businesses as well.
A business lease will be for a term of at least six years. There may be a clause in your professional lease that prevents you from subletting the office space during this period, so check it first if you are considering doing so.
Preparation is key when signing a commercial lease for office space. A business lease comes with a number of obligations and procedures above and beyond those of a traditional lease. With the emergence of more convenient alternatives, leasing office space is easier than ever. This is the case, for example, when a company leases office space.
What you should know before signing a 3/6/9 commercial lease
A commercial lease agreement can also be used to lease residential property. The “3/6/9 lease” is the most common type of commercial lease agreement between a landlord and a tenant.
The tenant must pay a maximum rent and the term of the lease is set at 9 years. Landlords should only consider this minimum lease term. The landlord must pay damages to the tenant if the lease is terminated early.
In a 3/6/9 lease, the commercial tenant has the right to terminate the lease at the end of the third year. To do so, you must give your landlord six months’ notice by bailiff.
So, which type of lease is best for you?