Make Good occurs at the end of a lease, whereby the tenant is obliged to reinstate the Sydney commercial office to its original condition. The procedure could involve repainting walls, stripping furnishings and fittings, and even reinstalling old equipment. The building owner could update the office for greater marketability, but new tenants could then renovate the office once more accordingly.
According to The Royal Institution of Chartered Surveyors (RICS) Oceania, there are 5 reasons to implement a greener Make Good:
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Reduces cost. Instead of refurbishing a
Sydney commercial office three different times, adopting a more sustainable Make Good approach will lower costs significantly for all parties involved (that is, leaving tenants, landlord and new tenants).
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Reduces material waste. Landlords can rent out the
Sydney commercial office along with reusable necessities like chairs, workstations, desks and partitions to reduce waste.
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Saves time for tenants. By making use of existing fit outs, tenants occupy the office space until their lease expires, instead of allowing time for making good during their lease term. New tenants can also save time on making additional changes to the Sydney commercial office.
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Saves time for landlords. Because there is less work to be done, landlords can start marketing the Sydney commercial office as soon as possible.
Reduces tenant-landlord conflict. By agreeing to Green Make Good Deed, tenants and landlord can have certainty in terms of financial costs and other obligations, thereby minimising conflict or any misunderstanding.
It is obvious the current Make Good process is not only time consuming and labour intensive, it's also costly and environmentally unsustainable. If you're unsure of your lease obligations or require further information, please consult Sydney commercial office experts, Tim Green Commercial.
