The Boring Stuff

This is the financial status of your company
Like it or not, your potential landlord will be very interested in this
Best presentation of financial accounts day 1 will help you negotiate the best commercial terms
Most landlords still require a rental deposit unless you can demonstrate a powerful track record.

Instead of taking a brand new lease, you can take an assignment
This is where somebody else started the lease and doesn’t want it anymore
There may be many years to run on the lease yet, but the rent may be lower than current market rents
You may benefit however from there being a substantial tenants fit out already done
The existing tenant may want money for both of these by way of a cash premium
But be careful of any dilapidations liability at the end of the lease you can inherit
Having said this, most office space is acquired on brand new leases.

These are complex agreements between landlord and tenant; they can often run up to 100 pages or more.
They set out the tenants and the landlords rights and obligations
Boring though this can be, you need to get it right
Certain clauses may not appear very interesting on day 1, but key points can have a massive impact later on when you want to move out or contest a rent review.

It is critical and beneficial to have a first rate solicitor acting for you on the lease
It is normal for both parties to pay their own legal costs.

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