Not everyone can work from home, the majority of businesses need premises and these are normally occupied under the provisions of a Commercial Lease.
A lease creates many obligations and is invariably drawn to benefit the Landlord and yet it is currently a tenants market. There are plenty of premises out there. When you are in negotiations with the Landlords Agent you should be looking to ensure the following:-
- You only pay your costs, not the Landlord’s or a Superior Landlord’s
- You are entitled to renew the Lease at the end of its term. That way you can go for a shorter term initially with therefore less obligation if your business falters.
- You have a rent free period if you are carrying out any repair works to the premises in getting them ready for your occupation.
- Try and negotiate a break clause after say 2 years in order that you can limit your potential obligations where you might be a new business.
Once you have agreed Heads of Terms with the Landlords Agent, instruct T M Law to negotiate the lease for you with the landlords solicitors or at the very least, have them review the documents and advise you on the detailed terms of the lease.
Call T M Law on 01277 655338 and discuss your situation with us. The initial discussion will be free.
This blog post was originally featured on this members own blog.