Entering into a commercial lease can be a complex business. The landlord is naturally going to do all they can to protect their interests, and some more unscrupulous ones may even slip in clauses that put more than the fair share of upkeep onto the tenant.
How can you avoid these pitfalls if you want to lease a building in the capital? By using a commercial lease solicitor in London. At Saracens Solicitors, we’ve been advising clients on commercial property transactions for 13 years, and we cover all aspects of this intricate and detailed area of the law.
If your business is ready to take on new premises, along with the excitement this will naturally bring, it’s a good idea to keep your business head on and get legal advice. This will make sure your company’s future is secure for years to come.
Step one: choosing the right space
Is it more suitable for your business to buy or rent? Do you want to leave yourself room to expand? What’s your maximum budget? Do you need one type of space (eg a shop unit) or mixed use (office and shop)? For retail businesses, what’s the ideal location to attract your target customers? Work all this out before you start looking at properties and you’ll save yourself a lot of time.
Step two: legal advice
If you decide to rent, you will need to consult a commercial lease solicitor in London. It’s better to do this early on in the process, so you can avoid getting deep into negotiations before realising that this lease isn’t going to work for you.
Step three: property searches
Just as when you buy a house, your solicitor will carry out searches for you to make sure there are no underlying problems with the property or the surrounding area.
Step four: agreeing terms
Once you’ve decided on the right property for your business, you can use your commercial lease solicitor in London to negotiate on the specifics with you prospective landlord or their agent. If you haven’t consulted a commercial lease solicitor in London yet, get one on board now, so they can make sure you don’t sign a contract that puts your business at risk.
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