Whether you are looking to lease an office, retail or industrial unit when you are starting up a new business, you are going to have to obtain a lease agreement. These can be quite complicated and you need to know what you are doing before you sign anything, and there are a few tips to help you with the process.
One good tip is to always note any professional advice that you receive. A lease is probably going to be one of the largest contracts you have ever entered into, and one that requires obligations and payments on a long-term basis. Make sure you have the structure of the property you intend to move to examined by a chartered surveyor, and seek legal consultation on the documents for the contract.
You also need to check what is the covered by the servicing. How old is the boiler in your building? Is the broadband going to be fast enough to be able to support your company? If you are moving to a shared building, check with the utility company to make certain that the metering is not supplying anyone but you.
It is also a good idea not to forget to factor in the complete fit out/refurbishment costs after your relocation, as well as the costs involved should you be unable to operate your business while all of this is taking place. It is also important to think about whether the length of the lease enables your business to have room to grow.
Gene Salaz
