Do I need a solicitor to rent a commercial property?

What to know before renting a commercial property?

10 Things to Look for in a Commercial Lease

  1. Cost. The most obvious thing to look for in a commercial lease is the cost and the frequency of payment. …
  2. Length. …
  3. Inclusions. …
  4. Outgoings. …
  5. Subleasing limitations. …
  6. Jurisdiction. …
  7. Rights and responsibilities. …
  8. Default and Termination Clauses.

What should I ask for in a commercial lease agreement?

The following are the top 6 important questions to ask in order to negotiate a fair deal:

  • What Type of Commercial Lease is Given? …
  • Are the Terms of the Lease Negotiable? …
  • Is the Space Modifiable? …
  • What other Tenants are In the Premises? …
  • What Amenities are Available? …
  • Is the Commercial Lease Assignable?

What should be included in a commercial lease agreement?

Four Terms to Include In Your Commercial Lease Agreement

  • The Parties & Personal Guarantees. …
  • Lease Term & Renewals. …
  • Rent Payments and Expenses. …
  • Business Protection Clauses.

What is a landlord responsible for in a commercial lease?

A commercial landlord is responsible for all the fixtures and fittings they own and these must be safely installed and maintained properly. The tenant is responsible for the safety and maintenance of any fixtures and fittings they have installed, and that should be clear in the lease.

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Do commercial tenants have to pay building insurance?

If you are a tenant renting a commercial property you do not need building insurance. It is the property owner’s responsibility to organise this. Sometimes landlords will pass the cost of building insurance on to the tenant as part of terms set out in the tenancy agreement.

How much can you negotiate on a commercial lease?

Landlords ask for a rent up front that is the maximum amount of rent they think a tenant might agree to pay. But landlords don’t actually expect anyone to agree to that amount. Come in with your counter offer at 10-15% beneath what they’re asking for.