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Everything You Need To Know About Commercial Leasing, And Why You Should Consult A Commercial Lease Solicitor When Looking To Buy Or Rent A Property

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By Author: Rainer Hughes
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Large companies or corporations often lease commercial real estate or buildings in the UK, simply because it offers a more cost-effective solution to buying property. Although a commercial lease is not particularly complicated, there are some key differences (when compared to a residential lease) that you should know about before signing the leasing agreement.

Additionally, the distinction between commercial and professional premises is often ambiguous. While the second is intended for a commercial, industrial, or trade role, the first is meant for the exercise of a liberal activity or office space.

What Is The Right To Commercial Rent?

Sometimes a property or building can be rented with an option to buy it later. Usually, the leasing right is an essential component of goodwill. This is the sum that the buyer must pay or owe the property owner to take advantage of the conditions and rights outlined in commercial leases (right to renewal, eviction compensation, and so on).

Why Should I Consider Hiring A Commercial Lease Solicitor?

Hiring a commercial lease solicitor will give you peace of mind ...
... knowing that your lawyer has gone over the agreement with a fine comb to ensure there are no pitfalls. Terminology, especially legal terms, and the finer detail of a lease agreement could be something you do not properly understand, or even overlook sometimes.

It is also important that you understand and agree to the specific terms and conditions of the contract before you sign and commit to it. For example, a lease agreement will specify the rental term of the lease as well as the amount you will have to pay in terms of the lease. If your business is stable and secure, and you anticipate staying in the same location for a long period, you should opt for a long fixed-term lease. This way, costs will be cut, but flexibility could be sacrificed.

On the other hand, your commercial lease solicitor may also negotiate a short-term lease option with the property owner or landlord if you do not want to commit to a long-term lease because your business is still in the growth period.

However, some businesses require flexibility, and if this is the case with your business, it is important to opt for a renewable contract that takes your changing business needs into account. These agreements are for a certain period (often brief) however they can be extended without entering into fresh lease negotiations. As a result, there is less risk for your business and the landlord.

Furthermore, if you are looking to become a property owner and want to invest in real estate, you will also need the services of a commercial lease solicitor. Real estate has historically shown to be a safe source of investment producing stable returns even in an unpredictable economy, making it an alluring long-term investment for investors. Having a professional at your side, who is knowledgeable about market compliances and regulations, as well as the real estate and investment markets, is very important in the real estate industry.

You can learn more about the various tools and strategies needed to strike the right balance between risk and return, by consulting an experienced commercial lease solicitor. These professionals assist clients - both private and corporate clients, in comprehending and navigating this industry's complexities to maximise investment and produce results.

Buying and selling investment properties, mergers, and acquisitions, the purchase, and sale of freehold and leasehold properties, drafting and providing advice on assured short-hold tenancies, probate sales, extending long leases, and commercial property investments are just a few of the areas where a commercial lease solicitor can be of assistance. If you are therefore looking to invest in real estate, it is advised that you first consult a commercial lease solicitor to discuss your long-term goals and aspirations.

About Us

Rainer Hughes is an award-winning full-service legal practice situated in the United Kingdom that serves corporations, enterprises, and private individuals. Our legal team is at the core of our practice, which is built around a depth of judicial knowledge and expertise that are perfectly suited to help our clients not only succeed but thrive. We strive to provide the highest level of quality legal services in all of our fields, with an emphasis on quality, value, and outcomes. Rainer Hughes has over the years successfully represented many clients in achieving landmark judgments, in several high-profile, law-changing cases. To find out more about our firm, our wide range of legal services, and the team behind it all, please visit our website at https://rainerhughes.com.

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