The Complete Guide to Renting a Commercial Property The Complete Guide to Renting Commercial Property | Page 5

The Complete Guide to Renting a Commercial Property

What is a Business Lease?
When you're planning to lease new business premises, there are a lot of
different things to consider.
A business lease is a legally binding contract between the owner of the commercial property (the
landlord) and the occupier (tenant). If either party fails to comply with the terms of the agreement, it
could result in court action.
In terms of being the occupier, The 2007 Code for Leasing Business Premises (we'll simply refer to
this as 'the lease code' from now on) provides the framework for how the landlord should operate.
However, it's only guidance: it's not a guarantee that the landlord will comply with it to the letter. As
a result, it's a good idea to educate yourself on what it involves.

Lease Negotiations
Once you’ve made your application, your LPA will decide whether or not
to grant you commercial planning permission. They’ll take into account
things like:
The landlords should make it very clear just what you're being asked to agree on. As the occupier,
you should clearly understand:


The duration of the contract



The costs you will be expected to pay



Which areas you will be held liable for



What the terms and conditions are



What the property is and what the agreed boundaries and means of access are



Who the landlord is by name

You are well within your rights to request alternate terms if you're unhappy with the initial ones, but
the landlord is equally able to request a change in rent or duration as a result of the change you
want. Just like any negotiation, it's about striking a balance that allows both parties to be happy.

Commercial Property – Industrial Units, Office Space to Rent

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