5 Things to Check Before Signing your Retail Property Lease

September 06, 2018

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Signing a rental lease for a retail property is a major undertaking. As one of Liverpool’s most experienced letting agents, we've put together a list of the most important things your letting agreement should cover.

Signing a rental lease for a retail property is a major undertaking. As one of Liverpool’s most experienced letting agents, we've put together a list of the most important things your letting agreement should cover.

Rent

An obvious place to start, but it should be clear not only the amount you’re expected to pay annually for renting the property, but how many instalments you are supposed to pay it in. Is it quarterly, bi-monthly, monthly? It’s essential that this is detailed in the lease. Also, does your rent include VAT? If so, this can seriously affect your bottom line if you’re not VAT registered.

Legal for commercial use

When looking for retail property to let in Liverpool, an important consideration is whether you’re permitted to use the building you’re hoping to rent as a retail property. You might think no-one would make that kind of an oversight, but you’d be surprised.

Cancellation

For any growing business, flexibility is the key. Your new premises might be ideal for you here and now, but who knows what the future might bring. Insist on a break clause in your lease agreement. This will allow you to cancel the agreement early, should you need to do so.

Repairs

When it comes to repairs, your lease agreement should clearly state who is responsible for what. Most minor repairs tend to be down to you as the tenant, whilst more serious structural issues and renovations are the responsibility of the landlord.

Insurance

In most agreements, buildings insurance premiums are paid by the owner, who may well recoup them through your rent. However the buildings insurance is paid, make sure you have your own copy of the agreement so you know just what the policy covers.


At Liverpool Lets, we have a wide variety of retail property to let in Liverpool, in a number of desirable locations across the city. Visit our site today, or contact a member of our team for the latest availability details.