A small business will eventually need it’s own commercial premises and will need to enter a Commercial Lease. Many business owners have had experience of renting or buying in the private sector and assume the commercial sector is the same. However it is not the same and it can be a minefield to the unwary.
Many otherwise sensible business owners sign a Commercial Lease without speaking to someone who can explain it to them properly and clearly. Finding out the terms of the Lease do not meet your business requirements after you have signed and moved in happens far more often than you may realize and by then it is very hard to do anything about it.
Licence or a Lease.
Do you know which you are signing and what the differences are ?
Know exactly what you are renting. You may assume it is an area between certain walls but does it and what about the yard at the back and the parking at the front are they included in the Lease? Do not find you have the building but not the car park so can only walk in.
We understand that you want to move in as soon as possible but do not let that lead to paperwork not being properly done. You may have at least three years to regret it.
Repairs in a Commercial Lease
These are dealt with totally differently to a private rental. Normally everything but structural repairs will fall on the Lessee. The Landlord may have a different view what structural repairs are. The potential costs are very high. The time to find out and understand the terms of your Lease are before you sign and move in.
Proper practical advice
Take proper and practical advice from someone who understands what you are signing. Even if you have signed and moved in come and talk to us about any issues you may have as there is normally always a way forward. Do not ignore any problems and leave them to get worse. Try to avoid falling out with your Landlord at all costs.