Renting a commercial property

For most companies, rent on a premise is one of their largest business costs. Looking out for a few key points when you find the right place can make a big difference to your ongoing financial health.

Here are some of the essentials

• negotiate a break clause in the lease – it’s a way of ending the agreement if things don’t work out
• read your lease very carefully yourself – don’t just leave it to your solicitor. Commercial leases vary much more than residential ones, so it’s vital to be aware of exactly what you’re signing up to
• find out where you stand on maintenance and repairs – you may be responsible for some of them, so it’s vital to have a survey done and find out the condition of the premises before you take on the lease
• check all your initial and ongoing costs – find out what the local business rates are and obtain the market rents of other premises from your commercial agent
• be aware of rent reviews – check the dates and frequency of rent reviews, especially if your initial rent was very low
• find out if you can sub let or assign the property to someone else if you need to end your occupation before the lease runs out
• comply with the terms of your lease as closely as you possibly can. Commercial tenants have much less protection than residential tenants, and breaking the terms of your lease could be expensive.

Talk to our commercial property team for more advice on finding commercial property for rent in your area.