Negotiating your first lease?
Negotiating a business lease on your own for the first time can sometimes be confusing and there are pitfalls for the unwary. A typical lease will generally be proposed on the basis of the landlord’s preferred terms and so a tenant needs to be mindful that it could be asked to accept terms which are not necessarily in its best interests. A tenant that takes professional advice will better understand the process involved and the implications of agreeing to the terms that are proposed. That leads to the greater possibility of meaningful decisions being made to negotiate terms which suit the needs of the business.
At Gardner Leader we strive to ensure that our clients understand the terms they are signing up to and consistently succeed in agreeing beneficial provisions for first time tenants. These have included limiting repairing and maintenance obligations, capping the maximum amount payable under service charge provisions and ensuring that break rights are not subject to unreasonable pre-conditions.
If you are negotiating your first business lease then consider taking legal advice early on. Think about how the terms proposed will support the plans you have for your business and whether the agreement will provide sufficient flexibility for the future. Tim Blackman - Solicitor Gardner Leader LLP