Written by Richard Farnworth
Leasing a commercial property can be a huge step for any business and it is vital to get the right terms in place to suit your business.
When signing a commercial lease, you will often be committing to investing tens or even hundreds of thousands of pounds into a property. Despite this, our legal experts at Commercial Matters are regularly contacted by people who have signed a commercial lease without seeking advice from a solicitor.
Make sure you have carried out checks before leasing business premises
If the right checks are not carried out, a person can be left facing large bills and a property that doesn’t suit their needs.
In this article, our specialist solicitors take a look at some of the most important checks you should carry out before leasing a commercial property.
What can you use the premises for?
One of the most obvious checks to make before leasing a commercial property is to find out exactly what you can use the premises for. You shouldn’t simply rely on what it says in your lease. Make sure you have planning permission to run the type of business you want from your location.
If you think the type of business you run may change over time, ask for this to be built into the lease. This will save you from having to renegotiate your lease as your business changes or grows.
Look at the length of the lease
Especially when entering into your first commercial lease you should be wary of signing up for a number of years. A lease of 10 or even 20 years is a huge risk, especially for a new business.
If the business doesn’t work out or if you need to leave the premises you have leased, you could be left in a position where you are paying for a building you cannot use.
An experienced solicitor can help you negotiate a length of lease that will suit the needs of your business.
Consider break clauses
Many leases will contain break clauses which gives you and the landlord the chance to end the lease early.
This can offer protection if you have to close your business by ensuring you won’t be responsible for the lease after your business has ceased trading.
Who pays for the repairs?
Your lease should clarify who is responsible for paying for any repairs carried out on the property.
Some commercial leases will require you to make any repairs needed to keep the property in good condition during your lease. You should be wary of this as you could be left facing repair charges a few years down the line when it is difficult to remember when damaged happened and what caused it.
Your solicitor will help you negotiate terms which can give you peace of mind that you won’t be left facing any unnecessary repair bills during your lease.
Talk to the specialist solicitors at Commercial Matters
If you are looking to lease a commercial property, it is vital that you have access to the right advice early.
At Commercial Matters, we will provide advice on all aspects of your lease to ensure you have both a property that is right for you and terms that protect your business.
If you’d like to talk to one of our expert commercial property solicitors, call us now on 01282 695 400.
Or, if you don’t have time to talk right now, you can request a call-back by contacting us online today.