Archive for: How to guides
How to Avoid Unexpected Exit Costs on Your Rented Property
Are you responsible for the upkeep of your premises? As a tenant you have the responsibility to adequately maintain and keep the property in repair. The repairs required at the end of a commercial lease are referred to as ‘dilapidations’ and can include: • Repair • Redecoration • Full reinstatement back to the original layout […]
Dilapidation Liabilities for Tenants
Tenants should be considering their potential dilapidation costs not just at lease end but before the lease is signed When considering whether to lease a building a potential tenant not only needs to be thinking about the ‘in’ costs such as the rent, service charge, insurance etc but they also need to be carefully considering […]
Knowing the boundaries: Party Wall Matters
Knowing The Boundaries: Party Wall Matters When developers or owners undertake any building works, they must consider the effect their works may have on neighbouring properties as potentially, their neighbours will experience disruption during the works without receiving any benefits. There is the potential for additional professional fees and construction costs to be incurred that […]
Economic Viability Assessments (EVA’s)
With build costs expected to rise on average by 3.2% a year over the next 3 years (BCIS) and house price growth reportedly beginning to level out as supply increases and concerns over the impact of Brexit continues to cause hesitancy, we are likely to see a further squeeze on the viability of development projects. […]
What is a Section 20 Notice?
Section 20 of the Landlord & Tenant Act 1985 (as amended by the Commonhold & Leasehold Reform Act 2002) sets out the three-stage consultation procedure with which to follow when carrying out qualifying works to your building where the contribution from any one lessee exceeds £250, or a qualifying long-term agreement where the contribution from […]
Utility Costs and Leasing a Property
The cost of utilities in commercial properties will vary greatly from property to property and user to user so are often hard to compare, however there are some points to consider when trying to compare costs of different properties. Are the utilities separately metered or included under the service charge? If they are separately metered […]
What is a Rent Deposit?
What is a rent deposit? A rent deposit is paid prior to lease completion by the tenant to the landlord, it is completely separate to the first rent payment. The deposit will normally be held until the lease end (unless agreed otherwise) in a separate bank account. The deposit is taken as the landlords security […]
What is a Service Charge?
What is a service charge? If you occupy an industrial unit on an estate, or an office suite in a multi-let building then you will probably pay a service charge. A service charge covers the cost of running the building or estate, and maintenance to communal or shared internal and external areas. What does it […]
Understanding Your Business Rates Liability
Business Rates are a tax placed on properties which are used for commercial or business purposes, they apply to almost all commercial properties and are payable by the occupier (or landlord if the property is empty). They are not set by the landlord and do not change directly based on the rent you are paying. […]
Lease lengths have changed massively over the last 10 years with the average going from around 20-25 years down to around 3-5 years. Whilst some more established tenants are happy to commit to a longer term we are finding start up and smaller businesses looking for increased flexibility, but there are ways of taking a […]