Renting a commercial property

[rdbeauty]

I have been looking at a commercial property to lease instead of renting a room, however, I am unsure of all the questions I need to ask and what extras I need to be paying for so I can get an idea of whether it will be affordable.

I know I need to check the planning permissions
- Utilities bills on top
- Business rates if applicable
- Rental rate
- Insurance

Are there any other costs?

Also I have had a look at the premises needs a bit of work and I have ideas but obviously only having renting a house I am not sure what questions I should be asking!

Any help would be appreciated!
Many thanks in advance

 

[Beckybee]

Do you havet to o pay the owners legal costs?
Is there vat on the rent?
What am I responsible from? Eg up keep of the outside of the building.
What you can or cannot do to the inside.

 

[salonfrog]

I have been looking at a commercial property to lease instead of renting a room, however, I am unsure of all the questions I need to ask and what extras I need to be paying for so I can get an idea of whether it will be affordable.

I know I need to check the planning permissions
- Utilities bills on top
- Business rates if applicable
- Rental rate
- Insurance

Are there any other costs?

Also I have had a look at the premises needs a bit of work and I have ideas but obviously only having renting a house I am not sure what questions I should be asking!

Any help would be appreciated!
Many thanks in advance

Also worth checking the length of the lease and what option you have at the end of it (e.g. You get first option to renew).

Also for cash flow planning, what deposit is required.

 

[jbr]

And if there are monthly maintenance charges to pay?

 

[beautyxperts]

I have been looking at a commercial property to lease instead of renting a room, however, I am unsure of all the questions I need to ask and what extras I need to be paying for so I can get an idea of whether it will be affordable.

I know I need to check the planning permissions
- Utilities bills on top
- Business rates if applicable
- Rental rate
- Insurance

Are there any other costs?

Also I have had a look at the premises needs a bit of work and I have ideas but obviously only having renting a house I am not sure what questions I should be asking!

Any help would be appreciated!
Many thanks in advance

You need to ask;

•What the previous business's rates are and has the property qualified for business rate relief before? - check with the local council.

•buildings insurance - is this included as part of the rent or extra, if so how much extra?

•how long is the lease, if there are 3yrs, 5yrs, 10yrs can you agree a lower rent?

•is there a get out clause in the lease? Ie after 12 months if it's not working can you get out of the lease?

•Always have a lease agreement checked over by a solicitor - Ive previously learnt the hard way!

•you'll be personally responsible for; gas/electrical/water rates - find out who the previous occupant was with or currently and call them for tariff prices, same with water find out how much.

•what's your budget for signage (what kind of signage is allowed? Ie is building listed), fit out for interior?

 

[Beckybee]

Sometimes the tenant pays the building insurance

 

[skin&tonic]

Will you need to apply for change of use to Sui Generis?