Top Tips On Leasing Commercial Property
Leasing a commercial property is a significant commitment for any business. At JCP Solicitors, we understand the unique needs of local business owners and are here to guide you through the process with clarity and confidence. Carys Wilson, a Director in the Commercial Property team, provides her top tips for leasing commercial property.
Understand Lease Requirements
Before signing a lease, it is vital to fully understand your obligations. From rent reviews to maintenance responsibilities, hidden costs can creep in if the lease is not carefully reviewed. “Full repairing and insuring” leases can be costly—have a survey done and negotiate terms where possible. If you are unsure of where to start, seeking legal advice can help you to ensure the terms are fair and suitable for your business needs.
Location, Location, Location
When considering which property to lease for your business, ensure the premises comply with planning regulations for your intended use. A property might look ideal, but could require a change of use application – for example, converting an agricultural property into a hospitality venue – which may delay your plans or even result in your plans being refused.
Consider All Clauses
Consider the lease length. A long lease may provide stability, but a shorter term with renewal rights may offer more flexibility, especially for newer businesses. Always clarify your break clauses and options for assignment or subletting.
It is also important to understand the process for lease termination or renewal under the Landlord and Tenant Act 1954. Missing deadlines can affect your rights, so seek legal advice if you have concerns about payment schedules.
Whether you're opening your first premises or expanding your business, JCP Solicitors is here to help. With offices across South West Wales, our team of commercial property experts can provide you with legal advice and guidance.
A Fellow of the Agricultural Law Association, Carys has extensive experience in advising on all aspects of commercial and agricultural property matters including landlord and tenant matters, securitisation, disposals, acquisition and general portfolio management. Living on a farm in Mydroilyn, and a fluent Welsh speaker, Carys brings a unique, firsthand understanding of the challenges and opportunities faced by farmers, landowners, and businesses in the locality.
Contact Carys by calling 01267 248883 or emailing carys.wilson@jcpsolicitors.co.uk.