What’s in the small print?
Do you know exactly what you are liable for in your business lease?
Commercial landlords are passing more and more onus onto tenants. By renting a commercial building the tenant is known as the “Dutyholder” and therefore has many legal responsibilities. Failure to meet these can result in termination of the lease by the landlord, fines, prison sentences and ultimately business loss, including loss of security deposits.
Early involvement of a legal professional regarding lease particulars may be an initial unpopular outlay, but can save a lot of money in years to come, be it legal responsibilities or even just tricky clauses regarding notice periods or rent reviews.
Regardless of whether you decide to involve a professional, make sure you read and fully understand what you are signing up to!