We understand that renting commercial property can be difficult, below we have a guide to help you know what you should know when renting.

 

Firstly, you should think about the location of the property as this is the most important factor, we suggest thoroughly researching the area whilst also looking at transport links and parking facilities as this will determine how customers will be able to get to your business. You should also consider if the property is able to accommodate all your equipment, employees and machinery if needed.

 

After finding your property you should then investigate the renting costs for your commercial property, this can vary from landlord to landlord but you should consider that if you are a start up business, it may be easier for you to rent commercial property in a less well-known area as this will have lower costs. Rent is usually paid quarterly in advance, on March 25th, June 24th, September 29th, and December 25th. Along with rent you should also factor in business rates, this is a tax you must pay on non-residential buildings in England and Wales. Business rates are calculated using two main factors, the rateable value, and the level of the uniform business rate (UBR).

 

When looking through the costs you should then sign a lease agreement or license which sets out the terms and conditions of your tenancy agreement between the landlord and tenant, this will offer you long-term stability. After submitting an offer on the commercial property, you will have to wait for the landlord and the business owner to agree on the terms, when this is accepted you should ask the landlord to stop marketing the property as this will stop other businesses from putting offers in which could tempt the landlord into wanting to accept something else. After the contract has been accepted you can then exchange contracts and complete the deal! 

 

Contact us at Asquith Homes today for more information on the services we offer, you can call us by phone at 01924 273354 or email us at admin@asquith-homes.co.uk. We will be more than happy to help you with anything you need.