Lease Negotiation
Culverwell’s Second Law
The rent that companies pay to their landlords constitutes about 10% of what they should consider in negotiating the lease.
This is a VITAL part of the process of procuring business premises.
It all happens in two stages:
1. Agreeing heads of terms – Culverwell Consulting can do this bit
2. Incorporating those terms into the lease framework – solicitors do this bit
Both are important and separate elements. It is easy to confuse them or think they can be combined.
Other lease negotiations
- Rent review;
- Lease renewal;
- Exit from an expiring lease;
- Exit using a break clause.
All require specific action and skills, both commercial and legal.
The lease you agree is a defining document. Get it right and you can look forward to trouble-free occupation of a property. Get it wrong and when you need it most, it will not help. So how do you get it right?
It is the framework from which to hang a whole series of agreements. Please read examples of how important the heads of terms are.
To get your lease right, you need to approach it from the perspective of “what does my business need?”
It should be the result of a negotiation between landlord and tenant through their agents, but is often delivered to the business as a “take it or leave it” option.
Culverwell Consulting will ensure that the “heads of terms” accurately reflect the agreement that the business needs to reach. The document that goes to the solicitors is going to work for the occupying business.