It is that time of your work life when you feel you should have a place on your own. You have set out to rent your first shop unit and are eagerly looking for shops to rent in London. Everybody in your family and at work is excited about your big deal and therefore, it is very easy to let emotions drive you into something that’s actually not cut out for you. So, pause and think about it deeply. While checking out shops for sale in London, you might feel impressed with the first few of the lot but they might also pose problems that may not instantly catch your eye.
The first visit to a property site should be about checking the property and not rushing into any harried decisions. You need to see whether the place will suit your work plans. Therefore, try and ask as many questions as possible in this initial visit such as the length of the lease, the inclusions in price and the business rates. Also check the services in the place such as internet connections, phone lines and heating provisions.
After having enquired about these points, if you feel confident that the space is suitable, you will then need to arrange a second viewing of the site. In this visit, some more in-depth questions should be asked. It is, therefore, best to make a list of everything you expect from your unit and a series of questions to ask the landlord or agent. Important questions to ask are:
- When you seal the lease, will you be given a rent free period so you can complete any necessary renovations?
- Can you leave the property the way you found it; check whether it is a full repair lease.
- What will the landlord take care of? Discuss all expensive building repairs such as the roof, boilers and foundations and ask if the landlord will take care of those.
If you feel you are interested in the property, you will need to spend time reading through the contract for the minutest details mentioned therein. From a tenant’s standpoint, it is worth asking for a break clause to be added. If the lease is as long as 10 years, a break clause could be added to the lease that will permit you to reconsider staying at the property every two or three years.
If we are really talking of sealing the deal, it is recommended that you hire a lawyer to go over the contract with you to spot any areas of concern. After all, it is about your first commercial property in London; it is your prerogative to be fully aware of your responsibilities prior to making a commitment.
Share On
