Leasing

If you are thinking of leasing a shop or an office or some other commercial property you will have to make sure that you can prove to the landlord that you will be able to pay the rent in future. If you already have a business, then you may have to let the landlord see your accounts. You should prepare a business plan, to convince yourself as well as the landlord that you will be able to pay the rent in future.

Very often McCash & Hunter will be able to negotiate a rental with the landlord. However, you should always consider having a survey of the property carried out to confirm that the rent is reasonable, and also to identify any problems which could arise in the future.

In addition to paying rent, you will also be bound to pay rates to the local authority and, in most cases, the costs of insuring the property and keeping the property in good order.

The agreement between a landlord and a tenant is a lease which may be anything from two pages long to forty pages long. It is essential that you are aware of all the terms and conditions of the lease, and McCash & Hunter will help you to negotiate the precise terms.

Once the terms of the written lease have been agreed, you will be bound to go ahead with the lease and comply with all its terms. If you want to stop using the property before the end of the lease, then it will be up to you to find another tenant who is acceptable to the landlord. Until the landlord has agreed to accept another tenant, you will be bound to continue paying rent, rates and all the other costs of the lease. You may therefore prefer to negotiate a short-term lease rather than a very long one.

As your Solicitor has a great deal of work to do to prepare the lease, it is important that you contact him or her as soon as you decide that you want to lease a commercial property. Your Solicitor is the only person who can guide you through all the problems, such as arranging surveys, reporting on the terms of the lease, submitting an offer and settling the transaction. Accordingly, the best advice is to See McCash & Hunter First.