Common commercial lease costs

May 10 , 2018
May 10 , 2018
May 10 , 2018

Common commercial lease costs

May 10 , 2018
May 10 , 2018

It’s good to be prepared when you are starting a new business or adding a new venture to your existing portfolio. Assessing costs is part of good preparation. Some costs are fixed while others are harder to predict. Working with an experienced commercial lease solicitor in London, like Saracens Solicitors, can give you access to informed advice regarding business-related costs.

Solicitors fees

When you engage Saracens Solicitors as your commercial lease solicitor in London, we work with you to create a plan for our involvement. This allows us to make an estimate of the cost of our services. We can advise you on the likelihood of contingency costs and also set limits to help you manage your budget.

We believe that the right legal assistance can save you money in the long term. Fixing errors is often much more costly than getting the advice you need to avoid them.

Repairs and alterations

Some portion of your budget needs to be allocated to likely repairs. Making a thorough survey of any premises before you take on a commercial lease is a good way to avoid financially draining pitfalls.

You can also get professionals in to give you estimates for alterations. We recommend getting estimates from more than one firm before going ahead so you can compare. It’s worth remembering that the cheapest is not always the best value.

Service charges

Service charges are quite common in buildings where some of the space is shared. It involves a regular, set payment and is detailed within the terms of the lease. Occasionally there is room for negotiation when it comes to service charges. Saracens Solicitors can help you determine if this is the case when we are acting as your commercial lease solicitors in London.

One of the advantages of paying service charges is usually that the landlord is responsible for the repairs and upkeep of the communal areas of the building. If you feel like your landlord is not meeting their obligations under the terms of the lease and you have not been able to resolve the issue through normal channels of communication, we are happy to step in and either mediate or pursue more structured legal action.

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