Move into your business’s new home with confidence
Renting a commercial property is undeniably a big commitment, regardless of whether you’re a first-time tenant or managing multiple sites across your business. The terms of a lease will have a profound impact on your operational costs, flexibility and long-term business strategy.
We work closely with tenants to make sure their interests are fully protected, helping them secure terms that are fair, practical and aligned with their commercial goals.
Understanding your obligations and securing favourable terms
Many tenants focus solely on the headline rent, but the true cost of renting a commercial property extends far beyond this figure. The fine print of a lease, while often overlooked, can contain obligations that have a major impact on your business.
We take care of these details, making sure that the key terms are drafted as intended and that you fully understand the lease you’re entering – and how it works for you both now and in the future.
Key considerations for tenants:
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Rent review mechanism
While the initial rent is crucial, understanding the rent review mechanism is equally important. We advise on the implications of different review clauses and negotiate for terms that provide predictability and affordability. We also scrutinise any clauses related to service charge caps to prevent unexpected increases.
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Repairing obligations and conditions of premises
This is one of the most vital areas for tenants. A Full Repairing and Insuring (FRI) lease means you are responsible for all repairs, even those relating to the structure or age of the building.
We thoroughly review these clauses, advise on the potential costs and, where appropriate, negotiate to limit your liability, perhaps through a schedule of condition that limits your repairing obligations to the current state of repair.
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Break clauses
A break clause offers you the flexibility to terminate the lease early, which can be invaluable if your business needs change. We negotiate for clear and unconditional break clauses, ensuring you understand any conditions you must meet to exercise them successfully (e.g. giving sufficient notice and making sure there is no outstanding rent).
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Service charges
In multi-let properties, service charges can be a significant cost. We carefully review service charge provisions to make sure they are fair, transparent and that you are only paying for services that directly benefit your business. We can negotiate for caps on service charge increases or for a clear breakdown of recoverable costs.
Get in touch
With our support, you can begin renting a commercial property with confidence, knowing the fine print has been carefully handled, and that the lease works for you now and in the future.
Should any of our Chinese-speaking clients need help with interpreting documents and understanding the advice given, we work closely with a Chinese-speaking solicitor based in Newcastle-upon-Tyne who can be called upon for support when needed.
For specialist support when renting a commercial property, contact us on 0191 488 8200 or email jjc@peterross.co.uk.