Moving into a new commercial premise can be overwhelming and exciting.
Before you sign your new lease, make sure you understand some of the key clauses in your lease document. They can have a big impact on your business operation.
- Term: the length of the term, options to renew and holding over provisions.
- Rent Review: Typically falls on the anniversary of the lease’s commencement date and can take the form of a CPI increase, a market review or a fixed percentage increase, or a combination of these regimes.
- Outgoings: The landlord may sometimes require the tenant to pay operating expenses of the building (or outgoings) in ADDITION to the rent.
For clarification and support consult Richard Wise Solicitor before signing any Commercial Lease, call today for an appointment – 02 6372 3388.