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Negotiating a lease

  • 18-02-2014 8:53pm
    #1
    somahoney74
    Registered Users, Registered Users 2 Posts: 51 ✭✭


    Hi , I'm in the process of setting up a new business and need to negotiate a lease on a premises, however I have no experience of negotiating a lease on an industrial/retail outlet. Any ideas on what I should look out for or what I should include. Any help would be really appreciated. Thanks.


Comments

  • #2
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    Get an expert to advise/guide you, that is the best advice you will get!!


  • #3
    somahoney74
    Registered Users, Registered Users 2 Posts: 51 ✭✭somahoney74


    Peterdalkey wrote: »
    Get an expert to advise/guide you, that is the best advice you will get!!

    Thanks for the reply, an expert as in an auctioneer?


  • #4
    Peterdalkey
    Closed Accounts Posts: 2,091 ✭✭✭Peterdalkey


    There are two aspects to a lease to be negotiated:

    1: The commercial terms such as any rent free period, the rent itself, the shedule of dilapidations ( basically when you hand it back it may have to be in the same conditionas when you took possetion, you need this for setting a base condition),. other terms amy include the basis of the lease, are you liable for rates, building insurance etc ( some leases include these!). A commercial auctioneer/valuer working for you could save you a lot of money and grief!

    2: Before signing any lease, you should have a solicitor go over it in fine deatil and get him to explain to you about your liabilities and commitments by signingn it. It is a legally enforcable contract and you may want to vary the terms. many landlords will "try on" onerous provisions above the commercial norm.


  • #5
    jimmii
    Registered Users, Registered Users 2 Posts: 14,810 ✭✭✭✭jimmii


    From talking to people who are taking leases at the moment things seem to be swinging back in the Landlords favour a little bit when we signed our lease we were able to get pretty much anything we wanted. As Peter says best thing to do is get some expert advice from someone with as much experience as possible. When making your offer though be aggressive my thinking with negotiating is if they yes to your first offer then you could have got a better deal! Be sure to give yourself a get out clause in case things don't go according to plan we are able to get out of our lease after 18 months and 3 years just we have that little safety net.


  • #6
    somahoney74
    Registered Users, Registered Users 2 Posts: 51 ✭✭somahoney74


    Thanks for the replies, they are really helpful. I will retain an auctioneer.


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