7 Tricks To Get The Best Deal When Signing A Commercial Property Lease

7 Tricks to Get the Best Deal When Signing a Commercial Property LeaseNegotiating a commercial property lease can be complex, but with the right strategies, you can secure better terms and protect your business interests. Here are seven essential tips:

1. Negotiate a Rent-Free PeriodIf the property you're leasing will need some work or refurbishment, you won't be able to gain a profit from it during that time. Requesting a rent-free period will give you some financial respite while you prepare the space for business.

2. Understand Who Takes the LeaseMake sure you know who is taking your lease and under which conditions. It's important to read the small print, so that you know where you stand in case anything happens. For example, your landlord may be entitled to seize personal property in order to meet payments. It's advised that you should seek professional help to explore other options such as taking the lease through a separate limited company.

3. Include a Break ClauseHaving a break clause is essential. It allows you or the other party to end the lease early. Having a break clause ensures that you're not tied down for the full term, providing flexibility for your business needs.

4. Clarify Repairing ObligationsMake sure you are fully aware of how much repairing obligation you have. Some conditions state that the property has to be left in a better condition than when leased. Make sure to negotiate on these grounds as strong evidence will be recorded so that the obligation can be completed fairly.

5. Factor in Stamp Duty Land Tax (SDLT)SDLT (Stamp Duty Land Tax) can hit you with unexpected costs. Make sure you get a good estimation from a legal advisor on how much it will cost you in total, so you can budget accordingly.

6. Define Permitted Uses ClearlyIf you know all the exact uses of the property you're leasing, you can save yourself time and hassle. Knowing exactly what you're allowed to do and the consequences of breaking those conditions puts you in a better position for managing your property.

7. Get Everything in WritingVerbal negotiation is good, but writing is much better. It means that all the agreements are clear and evidenced so that all parties know exactly where they stand. This protects everyone involved and prevents future disputes.

Expert Commercial Property Legal AdviceIf you wish to seek any legal advice around commercial property, or simply want to know more, don't hesitate to call our team on: 0116 2999 199 or alternatively you can email us at: info@d-w-s.co.uk