A Guide to Renting Business Premises
- Price: £3.60
- Published: December 2016
- Type: Business Information Factsheet
- Format: PDF
Renting business premises involves entering into a lease, or a licence to occupy the premises, with the owner of the property or landlord. A lease is a legal document issued by the property owner or landlord that gives a business the exclusive right to occupy premises as a tenant for a fixed term, in exchange for the payment of rent. Some commercial premises are available on short-term, flexible 'licence to occupy' arrangements that provide 'easy-in, easy-out' terms.
This factsheet outlines what is involved in agreeing a lease or a licence to occupy. It explains what terms and conditions a lease agreement should cover, what the process of agreeing a lease entails, the costs incurred when renting premises for the first time and issues arising on termination of the lease.
This factsheet does not include information about finding or choosing premises, which is covered in BIF057, Choosing Commercial Premises. It does not cover managed workspace, which is explained in BIF397, An Introduction to Managed Workspace.