Leasing or Renting: Golden Rule

Apart from a Schedule of Condition, which we can undertake for you, you need to be extremely mindful of the following:

Let’s look at the average lease, which is usually about ten years. Increasingly we have seen a number of individuals and companies take on a commercial lease over a ten year period with no opt-out clause. This means that if your business is not successful or you become ill, you will still need to continue to pay the rent to the landlord. A number of leases allow you to sub-let the property. However, in the first instance we suggest that you need to have opt-out clauses every two years agreed in the lease. We also suggest that you need to agree the incremental rent increases from the onset of the lease.

Commercial property – act commercially and employ a Chartered Building Surveyor to make sure you do not get hit with a massive bill at the end of the lease.

Don’t forget to instruct a local solicitor to act on your behalf.