The importance of negotiating flexible lease terms
Every commercial lease is open to negotiation, so make sure both the rent and the terms of the office lease are negotiated in your favour and right for your business.
Negotiating office lease terms when moving office can be a complicated and demanding process. Furthermore, an office lease is a lengthy financial committment that has many implications for your business, so you need to be absolutely sure what you are agreeing to. More often than not, office lease documents are created with the landlord in mind, so it is up to your Commercial Property Agent to help you redress the balance in favour of the tenant.
There are many factors to consider when agreeing office lease terms;
- Whether there is any Rent Free Period
- Tenants Repairing Liability
- Payable Services Charges
- Option to break in the lease
- Whether it falls within the Landlord & Tenant Act 1954 (i.e. is it protected or renewable?)
As with most contracts, these issues issues are open to negotiation, so don’t hesitate in putting forward reasonable terms that favour the position of your business. Your landlord is likely to provide a counter-offer if they wish to negotiate further or they may simply agree to your requests, but whatever you agree to, make sure you are agreed on the terms before you sign on the dotted line. And more importantly, make sure your office lease is clarified and discussed with a Property Solicitor before you sign anything.
If you need expert advice to negotiate your office lease, find a Commercial Property Agent in your area.
Use our free and practical Moving Office Checklist when planning your office move.
