OptionsĮnsure that the proposed lease provides you with options to renew so that you can continue trading from the premises after the end of the initial term. Much of your business goodwill could be attached to your premises, so it is important to protect this.
Remember, once your lease has expired the landlord is under no obligation to renew it and you may need to find alternative premises. You need to ensure the duration (term) of the proposed lease is long enough for you to recoup your investment and make your required profit. Your proposed lease is also likely to include other terms and conditions.īefore signing a lease or lease related documents, taking possession of the premises or paying any monies you should obtain independent legal, financial and business advice.
Negotiating a commercially viable lease requires you to know and understand the key terms and conditions contained in the lease clauses.
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