Your aim will be to ensure that you achieve maximum flexibility for you to operate your business. Landlords will aim to ensure that they have as much control as possible to protect the value of their investment. A substantial degree of give and take is required to ensure that you do not take on premises which could become an expensive millstone while trying to deal with any legitimate concerns the landlord might have.
In a recent poll it highlighted that most prospective tenants generally failed to engage with their commercial property solicitor early enough, leading to unexpected costs and time delays.
All too often the prospective tenant will shake hands with a pushy agent or an experienced landlord only to later speak with a lawyer and realise they could have bargained a better position.
Remember: The agent is usually appointed by the landlord and receives a commission on completion so it’s worth remembering who’s acting in who’s best interest.
Important Lease Terms
- Repairs – consider the use of a ‘schedule of condition’ to limit your liability
- Always aim to secure a rent free period
- Think about your future needs. Agree a break clause if possible
We can advise you on
- Assigning your lease and dealing with the unreasonable landlord
- Repairs and Dilapidations
- Break notices (traps for the unwary)
- Lease renewal/extension
- All aspects of Landlord and Tenant Law.