When you are looking to rent commercial property, you are likely to be taking a big step personally and for your company. Taking on new premises is no small feat. Whether you are a first-time business owner or a seasoned professional, a commercial lease solicitor in London, like Saracens Solicitors, is there to help you get the terms that you want.
Many of the components of a commercial lease are flexible in that they can be tailored to some degree to suit the needs of you and your landlord. This means that, while there are standard inclusions such as term of lease and rent payable, the finer details can vary.
Today we are focused on rent and the aspects of paying for your property that will be included in the agreement Saracens Solicitors can craft for you when we act as your commercial lease solicitor in London.
An important factor
When you are leasing a commercial property, the costs involved become part of your business plan. You will be looking for reasonable rates and some stability. The amount of rent will be specified within your commercial lease. It may also include provisions for increasing the rent over time. This inflation might be detailed within the lease or there may simply be a date provided when the terms of the lease will be renegotiated.
Some lease agreements even have periods within them, usually at the start, where rent is purposefully lower. This would form part of an incentive practice that some larger properties might use in order to encourage new tenants to fill their units. The rent would be set to go up within a specified time frame.
For clarity, your lease will state how and when you rent will be paid. If you do not meet these obligations without cause, it might be grounds for eviction from the property. If you wish to withhold rent due to a dispute over the property, it is best to seek the advice of a commercial lease solicitor in London, like Saracens Solicitors, so we can help you stay on the right side of the law and help you towards a favourable outcome for you and your business.