Permanent Office Closure Can Be Streamlined with an Office Reinstatement Service
How has your business being doing over 2020 and since the start of 2021? Unfortunately, many Singaporean companies were hit hard by the measures against Covid-19 and the subsequent economic slowdown.
If your company is one of these affected businesses and you’ve moved from a temporary to a permanent office closure, there will be some essentials to handle right now. Office reinstatement is one of these. While it may be the last thing on your mind right now, completing the reinstatement steps is essential to conclude your relationship with a landlord quickly and without further complications.
In fact, the quicker you handle the reinstatement, the more time you’ll have to plan for the future and assess the possibilities ahead of you.
When a Temporary Office Closure Becomes Permanent
In the end of 2020, retail business closures in Singapore hit a 10-month high, a development that while unfortunate, is not surprising. In September alone,457 companies announced a permanent cessation of activities. Unfortunately, the shutdowns weren’t limited solely to small or local businesses. Some big international enterprises announced their decision to pull out of Singapore due to the Covid-19-related slowdowns.
Topshop and Esprit, as well as Robinsons are just three examples of international chains that had to end operations in Singapore in the end of 2020, The Straits Times reported.
According to the Singapore Tenants United for Fairness, most commercial tenants have not benefited from any concessions on behalf of landlords (given the complicated financial and economic situation right now). This complication increased challenges stemming from the Circuit Breaker period even further.
Facilitations are not extending beyond what is mandated by the government. According to the organisation, the situation could become even more complicated after government-imposed limits on interest rates and other measures are lifted.
Experts forecast a continuation of the crisis in 2021. And while such developments are expected to impact office and retail space negatively, there will be many enterprises incapable of resuming activities.
Office Reinstatement Still Required!
Dealing with this challenging moment for your business is incredibly challenging. A permanent closure is obviously the last thing you want to go through. Still, you have contractual obligations that have to be met.
Many landlords have office reinstatement clauses in the contracts their tenants sign. Do go through the agreement carefully and make sure you understand what is required of you. The fact that you’re struggling right now does not mean you’ll be freed from your contractual obligations (although you may try to re-negotiate those with the landlord).
An office reinstatement obliges you to leave the office in the exact condition that you found it in prior to occupancy.
Reinstatement can vary in complexity, which is why you need to understand the requirements and give yourself enough time to handle the process before your lease is over.
An office reinstatement service from a reputable office renovation and interior design company is one of the safest bets when it comes to meeting all requirements before the occupancy ends. Employing professionals can save you lots of money and give you peace of mind. many business owners tend to underestimate the complexities linked to a reinstatement. There will typically be multiple reinstatement steps that will have to be handled and executed simultaneously. In the case of an omission, the office handover will not go as smoothly as planned.
SORDC is the Office Reinstatement Service You Need
Since this is the last thing you probably want to deal with right now, do entrust office reinstatement in the hands of professionals. Such services will give you peace of mind and help you focus on more strategic aspects of getting back on your feet.
Numerous companies in Singapore offer office reinstatement services. These solutions, however, are not created equal. A little bit of research and a good understanding of your tenancy contract will give you the information required to choose the correct team.
Office reinstatement can be very complex or very specific, depending on your landlord’s requirements. This is why you need service providers who have enough experience in the field. In the absence of knowledge and past know-how, the team could end up omitting important processes and steps.
SORDC’s team has over 25 years of experience in the fields of office renovation and reinstatement service provision. We’ve seen it all and we can handle the requirements of even the most peculiar landlords. The sooner you contact us and begin the execution, the easier it will be to handle all required steps in due time.
We have experience with the most common steps, the timeframe for the completion of those and the paperwork that will have to be handled. What’s even more important, we offer A to Z solutions. Once you let the SORDC team take over, you’ll be free to stop worrying about the reinstatement. Our attention to detail and expertise will result in an outcome that will please even the most meticulous of landlords.
The SORDC office reinstatement services are customised and priced to address all of your needs within a reasonable budget. Handling the process on your own will often prove to be more expensive and cumbersome. On top of that, you may still end up having to hire a professional team to ensure compliance with requirements.
Don’t hesitate to reach out today and get in touch with SORDC. We will do our best to make the transition as smooth and seamless as possible, ensuring your peace of mind during a challenging period in your life.