It is important that you take advice from a surveyor acting in your interests before agreeing the terms.  It's also best to instruct a solicitor as early as possible in the process.  The solicitor will be able to explain your liability in rent payments; your liability in payments towards the buildings insurance (which is usually paid by the Landlord and claimed back from you); your liability in payments towards the upkeep of the building or surrounding area;  your liability in repairs to the interior or exterior; whether or not VAT is payable on the lease rent; whether you can end the lease before the end of the term; whether you have the right to a new lease at the end of the term; whether you are allowed to sell the lease during the term and if so what restrictions there are; what you are allowed to use the premises for; whether you can make any alterations or put up any signs and how much you need to pay when you take the lease.

 

A lot of tenants don't realise that the lease is a commitment for the full term as you will be expected to guarantee any tenant that you sell or transfer the lease to.  

 

Contacts:

 

 Sarah Miles