If you want to rent a building or office in Singapore, then it is coming bare. Furthermore, if you want to do the renovations or customizations to expand your business in the respective office layout, then you have to take the permission from the landlords. And if they are approving, then you can you anything within that space, but in between the lease term. Once the lease term is over, the entire set up has to reinstate back to its original form.
Deposit for renovation
The renovation deposit is must, and that ranges from $1000 to $5000, and this is given to the landlord before making the renovation or other things on the premises. This amount will be used to defray the sum of rectifying the losses or damages to the offices or premises if any, during the time of the renovation period. And at the end of the day of renovation, this amount will be returned with some less deduction.
Fit out cost estimation
Certain things are included in fitting-out of the buildings or office such as the complexity of the layout, quality of the materials, technical requirements, unit size, and this will affect the final quotation. Tenants can take the help of the experts to help them out with the designing, planning and other cost assessments. A ball-park calculation would be:
- Mid range-up to $xyz psf.
- Premium-$xyz psf and above.
- Economy class- up to $xyz psf.
Estimation of the time taken
The time depends on the size of the office space. The chosen contractor or interior designers are allowed for the permits such as the fire safety approval, which will be before the commencement of the works related to the renovation.
- Up to 1000sqft (2 to 4 weeks).
- 2000 to 5000sqft (6 to 8 weeks).
- 6000 to 10000sqft (10 to 12 weeks).