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Business Leases

If you are thinking of renting your own business premises for your business it is well worth checking out with us to look over the various aspects of the premises and the proposed lease that you will be entering in to. 

 

But just before you sign away your life on that dotted line it’s very important that you carefully consider the contract (also known as the commercial lease agreement) the landlord is going to offer you.

 

We understand that you want the best deal you can get – and to this end, it’s crucial that you work out whether or not there’s anything in the contract that ought to be changed to your benefit. Contracts are prepared by or on behalf of landlords so it's understandable that they would favour them unless you take advice to counter-balance their bias.

First of all, it’s worth knowing that there’s likely to be clauses and conditions in your commercial lease that you’ll want to change before you can sign it. It’s standard practice that leases can be negotiated over, but it’ll be worth checking with us who have detailed knowledge of commercial property to go over the lease with a fine-toothed comb and negotiate with the landlord’s advisors on your behalf.

 

N.B. You do not have to employ an expensive solicitor to undertake this task.

We can advise on;

  • The premises' commercial classification and whether an application for change of use is required.

  • If there are any negative conditions within the lease that may need taking out or modifying

  • The length of the lease and where to have break clauses

  • The amount of deposit being asked for by the landlord

  • Your responsibilities as a tenant and whether this is reasonable

  • What the landlord is responsible for and whether you should ask for clarifications about certain matters

  • Negotiating about the asking rent and any rent increases that are detailed

  • Your ability to sub-let

  • The option to put the lease in a ltd co name without director guarantees

  • Whether the lease is in or outside of the Landlord & Tenant Act 1954 & its implications to you

  • Late rent penalties - are they reasonable

  • Negotiating rent-free periods

  • Stamp duty (if applicable)

  • Rent guarantees

  • Landlord dilapidation charges

  • Service or management charges

  • Business rates and small business rates relief

  • The property location

  • The condition of the premises

  • Restrictions on the lease

  • Building insurance

  • Public Liability insurance

Watt & Co Accountants can of course advise and act for you on all aspects of taking on rented premises for your business.

Contact us for a free consultation on 01803 411684.