Negotiating the lease on your new office
Don’t sign up to the first lease that comes along – play your cards right and get the best leasing deal for you
Getting the right office lease is perhaps the most crucial aspect of moving office. It is a tremendous financial commitment to take up new office space and the success of your business can rest upon the location of your offices. Signing a lease is a long-term agreement that can be costly if you want to break from it in advance of the contract reaching its natural end, so make sure you put time and careful consideration into picking your work space. Your property solicitor will be able to help you negotiate the best terms in your interests, but make sure you are methodical about your office selection process.
- Ask your commercial property agent about the market climate and discover more about the area you are scoping out so that you can find out more about business links, rental values and transport connections that will be vital to sustaining your business.
- Make sure that you check out a couple of different properties and don’t set your heart on one lone office space. Keeping your options open will give you choices in the face of competing tenants.
- Read all of the small print and tot up the complete figure, taking into account fees on top of the bottom line rent. Understanding the figures fully will provide you with all the information you need to strike a deal that meets your moving office budget.
- Discussing a cap for your rent will give you a safety net in knowing that your rents can’t exceed a certain figure.
