Guest Post
In this post, we've put together an essential guide for renting out a commercial property, including: how you can find one, and what your rights and responsibilities are when you move in.
How to Find a Commercial Property
Nowadays, thanks to the rise of the internet, renting a commercial property is simpler than it ever has been before. Most people looking for a commercial property for rent will simply head to sites like LCP on the internet, finding their property in minutes.
Of course, you can still scour the high street but, in comparison to looking online, this is very labour intensive and can take up much needed time.
The legalities around signing a lease for a commercial property will always be complicated, and it can be a lengthy process. As a result, ensure you start your search long before you actually need to move into the property. You don't want your business to end up homeless.
What are my Rights and Obligations as a Tenant?
The first thing you must do is ensure that the person letting the property to you is the owner of the building (your lawyers can help with this). The Landlord and Tenant Act (1954) is very specific on sub-letting, so you need to be careful that they have the right to let the property to you.
Rights and Responsibilities
Before you move into the building, you should read the contract that you and your landlord have signed carefully. This is because this document will set out not only your responsibilities, but also those of the landlord. You should also ensure that you have a copy of this document, in case of emergency.
Depending on your tenancy type, you'll have different responsibilities, but the contract should say who is responsible for:
- Internal and external maintenance and repair
- Ensuring the building meets access and fire safety standards
- Covering the building through insurance
- Ensuring that usage meets the Property Use Class (this could be a problem if you're not a 9-5 business or work unsociable hours)
All of this should be laid out in the contract. This will leave you in no doubt of what your rights and responsibilities are. If you're unsure, or if something is excluded, ask for it to be redrafted.
Knowing Your Financial Obligations
You'll also need to know your financial liability for the duration of the tenancy. This includes:
- The rent
- How often the rent must be paid (weekly, monthly, quarterly or yearly)
- How the rent should be paid (BACS, cheque, cash)
- How much the deposit is and where it is held
- How much the rates are
- What the service charges are
- What dilapidation costs are associated
Safety
And finally, you'll need to ensure that you keep the property (and your stock and staff) safe. Admittedly, this can be difficult in rented accommodation because, if you're looking to make substantial changes to the security of a site, you'll need to get the permission of the landlord.
However, there are little things you can do that will make a big difference, and you won't need the landlord's permission, such as:
- Window openers: companies like Rocburn can provide ones that fit to the windows already in the building, so there's no need to replace them. These stop windows opening too far, so no intruder can get in.
- Motion sensor security lights: These can be affixed to the outside of the building and can sit on the floor. Nothing puts a potential burglar off more than light, so light the whole building up if someone approaches on a night when you're out of office.
- Security boxes: if your landlord won't allow you to install an alarm, then just put the box up. This saves the full system, but should be enough to put off most burglars; especially if you get one from a good company.
That's your ultimate guide to renting commercial property - good luck!
