How to renew a lease when renting commercial property

If you have found a commercial property that you plan to rent you might be concerned that your lease has an expiry date or you may be coming to the end of your lease and wondering what you can do to extend the agreement. In our previous article, “a guide to leasing property for small & medium businesses”, we explored the process of securing a lease for a commercial building and it is during this process that you can negotiate the length of the lease with the landlord. This article explains what you should do when you want to renew your lease agreement to extend your occupancy of the commercial building.

Premiums, deposits, rent and business rates explained

When searching for a suitable commercial property to operate your business from, it is highly likely that one of your biggest concerns will be the costs involved. In our previous article, “a guide to leasing property for small to medium businesses”, we explained the process of leasing commercial property and in this article we will focus on the financial aspects of the acquisition.

The property’s owner, the landlord, should provide you with the expected full financial costs associated with leasing the building prior to or during the negotiation of the lease. As well as the premium, deposit, rent and business rates this should also include security deposits, personal or company guarantees and any other guarantees requested by the landlord.

Negotiating a commercial property lease agreement

As discussed in our previous article, “a guide to leasing property for small & medium businesses”, a commercial property lease agreement is a legally binding contract between the landlord and the tenant. Before signing a lease agreement it is vital that you understand every term and condition stated in the contract and the agreement meets your business requirements. You may need to negotiate some of the terms in the agreement in order for the lease of the building to work effectively for your business needs. This article highlights some of the terms and conditions you need to be aware of in order to achieve this.

Your obligations and rights when leasing commercial property

In our previous article, “a guide to leasing property for small & medium businesses”, we discussed the process and benefits of renting commercial property as well as what you need to look out for. If you plan on leasing a commercial building you need to fully understand that a legally binding agreement has to be made between the tenant and the landlord. This article will feature some tips regarding your rights and obligations that should help you maintain a healthy relationship between you and the property owner.

Company Formations by Harry Dronfield and Sunad Joshi

An article on Company Formation has been published on the website Corporate LiveWire.

In it Harry Dronfield (an Associate Solicitor at Rollingsons) and Sunad Joshi (an Assistant Solicitor at Rollingsons) look at the importance of choosing the right company to form and the risks involved in incorporating the wrong type of company.

This is illustrated by looking at several case studies on how clients benefit from tailoring their articles of association in line with their business and organisational needs. 

Click here to download the PDF of the Expert Guide.

Find out more about Harry Dronfield and Sunad Joshi.