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REM > Office :> > Flashcards

Office :> Flashcards

1
Q

Types of offices

A
  • Grade A
  • Grade B
  • Grade C
  • Co-sharing space
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2
Q

Grade A offices

A
  • 43% of CBD Core office stock is Grade A
  • Iconic/Landmark Building with modern flexible layout
  • High tech specifications
  • Excellent accessibilities
  • Good quality building services
  • Underground parking
  • ample & good passenger lifts
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3
Q

Grade B offices

A
  • About half of CBD Core office stock is Grade B
  • buildings in CBD Fringe & islandwide
  • good quality but older buildings
  • do not have Grade A features & specifications
  • some specifications/features are not as modern
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4
Q

Grade C offices

A
  • Less desirable location
  • Outdated design & specifications
    (usually old but not updated)
  • Smaller lifts and lower ceiling height lobbies, if any
  • Little or insufficient parking lots
  • Lower standard of building services and finishes
  • Smaller floor plates
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5
Q

Co-sharing Space

A
  • Shared space
  • Users don’t own a single office on their own, or need a permanent space
  • Focus on freelancers, startups & firms that need quick setup and small office space requirement
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6
Q

Benefits of Co-Sharing space

A
  • Cost-effective, no renovations, deposit
  • Presentable office environment &
    administrative support to conduct business
  • Flexible and scalable space
  • Amenities and facilities
  • Can take advantage of network of offices
  • Some have eco-system of users –
    synergy
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7
Q

can an office be in a shophouse?

A

yea :3

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8
Q

Players in the commercial/office property market

A
  • Buyers & Sellers
  • Tenants
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9
Q

Players (Sellers & Buyers) and their purposes

A

Developers, investors etc = generate regular income stream through rental revenue

Companies & Business = Owner-occupy to conduct business

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10
Q

Tenants in office buildings

A

most ppl rent :)

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11
Q

Main advantages of renting

A
  • Lower capital expenditure
  • Ability to remain foot-loose
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12
Q

Common reasons why companies and businesses source for commercial properties

A
  • New set-up
  • Expansion
  • Downsizing
  • Relocation
  • Merger and acquisitions
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13
Q

General Factors affecting pricing of commercial properties

A
  • Location
  • Accessibility
  • Condition
  • Size and shape and frontage
  • Height and View
  • Facilities
  • Tenure
  • Market trend
  • Others
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14
Q

Special considerations in marketing of office

A
  • Car parking facilities
  • Lifts system
  • Air-conditioning system
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15
Q

Car Parking Facilities

A
  • prospective buyers or tenants usually drive to work
  • lack of parking can deter them from buying/leasing
  • landed offices (like shophouses) do not have built-in car parking facilities
  • so salesperson must check on availability of roadside parking
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16
Q

Lift System in For medium- and high-rise office developments

A
  • only viable vertical transportation is via lifts.
  • essential that the lifts system is efficient in terms of numbers & speed
  • waste of time for salesperson to show client a high-rise office property with inefficient lift system if client needs good image for their customers
17
Q

Air-Conditioning System

A

i) Central System
ii) Individual Split-Unit System

18
Q

Central System

A
  • fixed operating hours
  • some developers the owner/MCST may allow operation beyond usual hours subject to payment of a fee
19
Q

Individual Split-Unit System

A
  • allows owner to have air-conditioning any time they require
20
Q

Disadvantage of Individual Split-Unit System

A
  • is required to pay for the electricity bill & maintenance of the
    system
  • Individual owners can install a split-unit system to supplement the
    central system in some developments
21
Q

Special Considerations in marketing of commercial schools

A
  • most important consideration is security
  • most commercial schools also organise night classes
22
Q

Special considerations in marketing childcare centres & kindergartens

A
  • security angle is the proximity of premise to the road
  • the concern is whether a child will run out of premises onto the road & meet an accident
23
Q

Tenancy Terms & Conditions

A
  • Duration : 2 years. more flexible arrangements for co-working space
  • rental payment: monthly in advance
  • security deposit: generally 1 month for every 12 month of rental period
  • interest on rental arrears
  • Permitted uses and users
  • landlord’s right to terminate
24
Q

Landlord’s right to terminate

A

(a) Premises is destroyed or damaged: Adjustment of deposit and rent
(b) Tenant is in breach e.g. rental arrears: Immediate
(c) En bloc redevelopment: Usually needs 3 months’ advance notice

25
Q

paid by and/or responsibility of the Tenant

A
  • Stamp Duty for the TA
  • Utility Charges
  • Maintenance of Landlord’s fixtures & fittings
  • Replacement/repair of any interior items damaged, lost or broken by the Tenant and/or his occupiers, invitees
  • Minor repairs and replacement of expendable items: Usually up to a certain amount
26
Q

Prohibitions and restrictions on the Tenant in office

A
  • No alterations and/or additions
  • Cannot be used as a private residence (cannot become a nuisance or annoyance or interfere with the quiet enjoyment of adjoining occupiers, no illegal or immoral purposes)
  • No unauthorised Tenant or occupants i.e. with respect to Immigration Act and the Employment of Foreign Workers Act. To allow Landlord upon request to carry out physical inspection of documents.
  • No subletting
  • No unauthorised storage of materials of a dangerous or explosive nature
  • Not to do anything that affects the fire insurance policies
27
Q

Landlord’s Covenants

A
  • To pay all taxes, maintenance charges
  • To insure the premises against loss and damage by fire
  • To be responsible for repair and replacement of parts of airconditioning units
  • To keep the roof, ceiling, main structure, walls, floors, wiring and pipes in good tenantable repair and condition (fair wear & tear accepted)
28
Q

Types of Lease Agreements

A
  • Base Rent
  • Double Net
  • Triple Net
  • Gross Rent
  • Utilities
29
Q

Base rent

A

the least you have to pay, other fees are added to this

30
Q

Double Net

A
  • base rent + taxes + insurance
  • not so common in sg
31
Q

Triple Net

A
  • base rent + taxes + insurance + maintenance
  • more common in industrial
32
Q

Gross rent

A
  • one lump sum which is all inclusive of expenses
  • most common in sg
33
Q

Utilities

A
  • always paid by tenant separately

REM (11 decks)

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