In urban hubs, finding and renting a space can be a mammoth task, specially in the metros. This contract is an arrangement between a group of like minded persons who have come together to share an office space with primary motive to save costs and make the best utilisation of available capacity.
This format can also be used If you have spare space or workstations in your office and wish to sublet it to others with a motive to share the rental and miscellaneous costs. Always remember to seal the key clauses and document them that will serve as a guidance for future reference, specially in case of disputes.
With this form, you not only lay out rules regarding usage of office space and term of agreement, but also charter specific clauses on usage of utilities and equipment. Use our easy to navigate interview questionnaire and you are just minutes away from printing the final document ready for execution.
You must keep your landowner in loop before executing this agreement since there may be a clause in the master lease agreement that may prevent you from getting into an office sharing agreement.
Print the document and ensure all members read and sign.
Like minded entrepreneurs or small businesses generally use the office sharing agreement with a view to share office space and facilities. This helps to cut operating costs and is viable for startups and small enterprises who can run their enterprises with shared facilities.
In this agreement, two or more like minded people having business in distinct verticals come together to rent a common office and operate independently. The rent and other maintenance expenditure are shared between the members of this agreement.
Generally, office sharing agreement is preceded by a rental agreement between the landowner(lessee) and the tenant or occupant of the said premise. The tenants sign the office sharing agreement and inform the landowner about the same.
In such case, all members of the office sharing agreement are parties to the master rental agreement and thereby become lessors. The members can designate one member as a master tenant( master lessor) authorising him/her to be the forward representative.
Since its a shared facility and members of the agreement are default lessors to the master lease agreement, all members share utility bills and maintenance costs equally unless otherwise agreed mutually and documented.
Always remember to brainstorm on various aspects of sharing an office with the members and arrive at common consensus before executing the office sharing agreement for best experience.
Always read your original lease document to determine whether sharing your space and subletting is allowed. In an office sharing scenario, subletting can be a strict no no.You can arrange for frequent meetings with the members and discuss contentious issue that affects you.
We have included a clause in this agreement that stresses on amicable resolution in case of a disagreement/dispute amongst the members(7.0). Such issues can be resolved by a simple majority vote.
No member of this agreement is liable for each other’s actions or deeds. Each member is independent.