Allowing your business to develop and grow is really important when considering a commercial lease. Depending on your plan for the future and the room for growth, you should always check whether a property if flexible and whether you can negotiate any contract changes with your landlord. Above all, it is very important to be guided by an experienced commercial lease solicitor.
Whether you wish to pursue a commercial lease in London or any other part of the UK, Saracens Solicitors commercial lease solicitor in London can help you avoid potential dangers and drawbacks, especially if you are renting a commercial property for the first time. Below are some important things to consider when looking out for properties to house your business:
If you are just starting your business, you need to be realistic about your immediate and long-term goals as well as your space requirements. For instance, if you expansion plans are realistic it may be more practical to rent out an entire floor or a larger property in order to accommodate more offices or other units in the future.
Do not forget to inspect the property
Most buildings in London and other parts of the UK are really old and although they are usually renovated, it is essential to check in advance whether the essential infrastructure for your business is there. Your commercial lease solicitor in London will provide a helpful guide of things to look out for when inspecting potential commercial properties.
Determining your lease length
Once you decide that a commercial property is ideal for your business, you need to think carefully about the length of your lease along with the help of your commercial lease solicitor in London. Most commercial leases last from 3 to 5 years, however, it is important to check whether you can rent out the property to another business during this time or get out of the lease prematurely. Break clauses are worth considering during this time of economic uncertainty, and although you may have to pay more rent at the beginning of your lease, including a break clause in your agreement will give you more flexibility.