14th August 2019
Congratulations – your business venture has reached the point where you are considering renting some commercial space. Whether you are looking to lease a shop, café, warehouse, office space or factory – there are various things to consider before signing on the dotted line.
One of the most important factors to consider is costs and affordability.
It is important to have a clear understanding of all the costs involved in letting a commercial unit, not just the annual rent involved. Just like with renting or purchasing a house is it critical that you have the finances in place and the means to make the monthly, quarterly or annual payments.
Our Commercial Property Law specialist, Bryony Dew, gives a brief overview of the costs involved that tenants need to budget for;
If you are taking over an existing lease from a previous tenant that has already paid some of these costs in advance under the terms of that lease, then you are likely be expected to re-pay the transferring tenant the proportions attributable to the period after completion.
Our aim is not to put you off from taking out a commercial lease, but we want to ensure that all our potential clients are aware of all the costs involved and that they are in the right financial position to take on the commitment of a commercial lease.
We understand the importance of clarity and so we provide you with a transparent fee estimation from the outset.
For more information on renting commercial property for the first time or to enquire about a quote for solicitor’s services involved in taking out a business lease then please get in touch with Bryony Dew, Solicitor and Associate within the Property Law Team at Lamb Brooks LLP.
Call Bryony on 01256 305553 or email email@example.com today.
The contents of this article are for the purposes of general awareness only. They do not purport to constitute legal or professional advice. The law may have changed since this article was published. Readers should not act on the basis of the information included and should take appropriate professional advice upon their own particular circumstances.
If you are need of professional, reliable legal advice, contact us today.
Lamb Brooks LLP
39 Winchester Street
f: 01256 330 933
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