Break rights

If you are starting up a new business and your are thinking of taking a lease then consider using an option to break in your lease. So if you have a 5 year lease consider asking the landlord to give you the option for you to break the lease on the third anniversary. This will help you if for instance your business does not thrive and you need to get out of the lease.

Vat tip

Always remember if you are a tenant taking a new lease check if vat is payable on top of the annual rent. An important tip!

Repairing covenant

If you are taking a new lease as a tenant of a commercial premises and you are worried about the extent of your obligation to repair the property, then we suggest you consider attaching a photographic schedule of condition to your commercial lease. This way you can qualify your repairing covenant so that you are not obligated to put the property in any better state of condition and repair  than that which evidenced by the schedule of condition attached to the lease. This is something you should keep in mind when entering a commercial lease.