A Brief Introduction About the Office Sharing Agreement
Office sharing Agreement emphasizes the need and requirement to have a professional agreement that is mutually beneficial to one and all. The agreement bonds a lot of parameters that should be understood and shared between one and all. Office Sharing Agreement comprises of a lot of points that are perplexing, tough to follow, complex in nature, and doubt raising issues. All the above points should be discussed clearly with a free mind and should resolve the complex, perplexing, doubt issues for the smooth functioning of the agreement. The agreement template or sample copy should be prepared and circulated between one and all to discuss all the outstanding issues pertaining to the agreement. Flaws and alterations should be corrected immediately.
Who Takes the Office Sharing Agreement? – People Involved
The agreement takes place between people who are ardent to share office space and enroll themselves in a professional agreement that is mutually beneficial to one all and should be acceptable in all ways. The agreement must enclave all the postulated required and to be adhered to during the working hours as per the requirement and conditions applicable. Sharing office space rental agreement is based on the location and importance of the area for financial and business prospects.
Purpose of the Office Sharing Agreement– Why Do You Need It?
The purpose of the agreement is to mutually and cohesively share the office space with valid terms and conditions that are cordially beneficial for all. The Office Sharing contract can be either mutually between 2 or more people having equal privileges and rights in the office environment. Sublease office space can be done by one person taking possession of the office space rental agreement and giving a sublease to another person. Sublease office space has a different set of rules that grant the Sublease in charge to lease the office space as per his/her custom-made conditions. In sublease office space, there will be one main and other subordinate below him/her who follows the guidelines and rules prescribed by him/her.
Contents of the Office Sharing Agreement– Inclusions
This agreement must encompass all the necessary parameters for the smooth functioning of the Agreement. Below are the lists of definite terms of the agreement:
- The number of working hours should be specified and any charge in working hours, then the resources utilized must be mentioned. Such as working extra time during Audits and utilizing the office resources much more than their peers.
- The duration of the agreement must be mentioned, and the renewal date must be specified.
- The period before which the renewal of the agreement should be done, and in case of a late renewal, the consequences must be mentioned.
- The Mentioned date should be diligently followed. The payment date should be mentioned; in case of late payment, the grace period and penalty must be mentioned in the agreement.
- The amount to be paid as Advance must be specified in the agreement and paid before joining the office. This amount should be mutually shared by all the persons involved in the agreement. How many months advance to be paid must be choked out before-hand.
- The Security Deposit amount should be promptly submitted to the Office owner before joining the office. The number of month’s security deposit to be deposit should be mentioned in the agreement and followed meticulously. The office maintenance amount should be paid promptly as per the instructions mentioned in the agreement.
How to Draft the Office Sharing Agreement?
Points to Consider While Preparing the Agreement
The features to be shared commonly must be encompassed in the agreement. Some of the salient features to be shared are as follows:
- The common area to be shared must be specified and mentioned before-hand. For instance, the Kitchen area, Reception area, Conference Room availability timings, etc.
- Appliances to be placed and shared must be specified in the agreement. Appliances, for instance, Fax Machine, Xerox machine, and Reception Desk.
- The amount to be paid to share the above appliances should be discussed and mentioned in the agreement.
- Appliances that will be used independently should be discussed — appliances such as Phone, Xerox paper, etc.
- The signatures and Social Identity proof of all the persons involved in the agreement should be taken on an Office Bond Paper. The signature and Social Identity Proof should be verified by the Office Owner.
- Proper and genuine recommendations and references should be taken while implementing the agreement.
- A legal arbitrator or consultant should be mentioned in the agreement if any legal disputes arise, then they should contact him/her for further queries.
The agreement must have a third-party Referee or an interpolate who can mediate(1) in between and assist them in resolving the issues within them. The negotiation should be based on the terms mentioned in the agreement, and it should be mutually agreeable by one and all.
Benefits & Drawbacks of the Office Sharing Agreement
The major benefit of the agreement would be that an understanding would be reached between the parties involved regarding the works to be done before-hand, and there would be no doubt or dilemma involved in the work. People involved will have a clear-cut idea about the situation and the sharing works and independent thoughts on how to get about the sharing agreement.
In case of any shortcoming of resources or if any of the persons involved will go on a vacation, then the Sharing Agreement cannot be implemented smoothly. A lot of care and effort has to be made to implement the agreement in a proper manner. In the case of Audits or urgent work completion, then it is difficult to share items with peers in the office.
The office sharing contract should be implemented judiciously and fairly with transparent policy. The agreement is suitable for various types of locations and conditions. By following the rules mentioned in the Office Sharing Agreement, we can do the daily works in a smooth and fair manner.