We have been busy providing lease consultancy advice and assistance to businesses looking at commercial property for rent during the COVID-19 Pandemic. In the last quarter of 2020 we have negotiated terms and secured offices, industrial and retail properties for occupier clients in Bath and Bristol and share below some killer tips for getting a great deal.
- Use a surveyor that has access to off market information and knowledge of market rents to prepare a shortlist of available options and negotiate comprehensive heads of terms on your behalf.
- Negotiate exit flexibility through tenant friendly alienation, break and business disruption clauses.
- Negotiate mitigating provisions for repairing, maintenance, decorating, reinstatement/dilapidation obligations.
- Negotiate mitigating/limiting provisions for occupancy costs, business rates, insurance, service charge and utility costs.
- Negotiate a deposit payment with release provisions. (Avoid personal guarantees at all costs).
- Negotiate Landlord and Tenant 1954 Act protection.
- Negotiate landlords works, capital contributions and rent free provisions.
- Negotiate environmental/contamination liability exclusions and property energy efficiency matters.
- Consider and mitigate for future potential legislation changes and for implications in terms of cost and impact on business.
- Use a surveyor to prepare a schedule of condition, pre-acquisition survey and a specialist to assisting with space planning and fit out.
These lease consultancy tips above are a great starting point when negotiating terms on a commercial property for rent whether that is an office, retail, industrial or leisure property.