When budgeting for a new office, monthly rent is just one component. Here are all the upfront and ongoing costs to plan for:
Upfront Costs
| Cost Item | Typical Amount | Paid By | Notes |
|---|
| Security Deposit | 3 months' gross rent | Tenant | Cash deposit or banker's guarantee. Refundable at lease end. |
| Stamp Duty | 0.4% of total lease value | Tenant | Payable to IRAS within 14 days of signing. E.g. $30K/mo × 36 months × 0.4% = $4,320. |
| Legal Fees (Landlord's lawyer) | $2,500 – $5,000+ | Tenant | Standard practice in Singapore — tenant pays landlord's legal costs for preparing the TA. |
| Legal Fees (Your lawyer) | $2,000 – $4,000 | Tenant | Optional but recommended for reviewing the TA and negotiating clauses. |
| Fit-Out Costs | $30 – $180+ per sq ft | Tenant | Depends on scope. See our Fit-Out Cost Guide. |
| IT Infrastructure | $5,000 – $30,000+ | Tenant | Data cabling, server room, WiFi, telecom setup. |
| Moving Costs | $3,000 – $15,000 | Tenant | Professional movers, IT relocation, temporary storage. |
| Tenant Rep Commission | Free for tenant | Landlord | SparkSpace's service is free — the landlord pays our fee. |
Ongoing Monthly Costs
| Cost Item | Typical Amount | Notes |
|---|
| Gross Rent | $6 – $16+ psf/mo | Usually includes service charge. Varies by location and grade. |
| Air-Conditioning (after-hours) | $80 – $150/hour | Standard hours are typically Mon–Fri 8am–6pm, Sat 8am–1pm. After-hours charged separately. |
| Car Park | $250 – $600/lot/mo | CBD rates. Reserved lots cost more than unreserved. Not always available. |
| Utilities (Electricity) | Included or metered | Most Grade A buildings include standard electricity in the service charge. Heavy users may be metered. |
| Insurance | $500 – $2,000/year | Contents and public liability insurance. Some landlords require minimum coverage. |
End-of-Lease Costs
| Cost Item | Typical Amount | Notes |
|---|
| Reinstatement | $15 – $40 per sq ft | Restore premises to original condition. May be waived if next tenant keeps your fit-out. |
| Professional Cleaning | $1,000 – $3,000 | Required before handing back the premises. |
| Dilapidation Assessment | Varies | Landlord inspects the unit for damage beyond normal wear and tear. |
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