Top 5 Tips for Negotiating a Lease
The cost of your business lease is likely to be one of the biggest overheads you have and one which involves a commitment for a substantial period of time, so it is critical to secure the right premises on the right terms.
Rise Legal’s top 5 tips…
- You can negotiate your lease for any period and on terms you like. Make a list of all the features you need in your new premises and meet the landlord armed with the deal that you want.
- Do your research and be prepared to stand your ground on matters of importance (or hire a lawyer to do this for you!).
- Make it clear that you have several alternatives, You may find that the previously “fixed” terms suddenly become very negotiable!
- Consider choosing infrequent rent reviews as these will lead to your total payment being less over the term of the lease.
- Make sure you involve your lawyer in the deal early on (preferably at the negotiation stage) so that they can ensure that the landlord includes all of the agreed terms in the documents.
Please note: “This publication is for information purposes only and does not constitute legal advice. If you have any questions about this or any other commercial legal issue, please contact Helen Kay at Rise Legal.”