rental agreements, solicitors fees

bellsmum

Hi guys

Ive just in the process to get my first shop my business plan is nearly there, I just need to put in it the set up prices and running cost to it.
The bank has asked me to bring the rental agreement with me when i next see them.
Ive got a view on the place Im interested in next week, so I can work out what items of equipment I will need. Ive asked the agent for a copy of the rental agreement, they said I can only obtain a copy until I sign up for the premises, Plus I need to know how much the legal costs are going to be, as ive been told that I may have to pay my side of the bill as well as the land lords and also can i choose my own solicitor in this or do I have to use the agents solicitors
Many thanks in advance

bellsmum

Forgot to mention the last people to go for the property were reused on the ground of their 2 references,
So i can get a head of my self who do these people have to be,
is it previous employers or charioteer reverences.

paulwf

Please do not rush into anything or be pressurized by the agent, make sure you understand everything before proceeding.

If you have done the four Business Link courses book yourself on the Making It Happen workshop where you can go through the main obstacles that need to be overcome to open your business. If you haven't done the BL courses then try and book a place on them

You should choose your own solicitor, they need to be experts in commercial law...unless you live in a big city chances are there will be only one decent commercial law firm in your area. Ask your accountant and bank manager and any contacts you know for suggestions.

It's standard to only be given a copy of a document until you are serious then the original will be issued...as long as the two don't vary it doesn't matter.

Landlords want to know that their tenant is going to be around for a long time, businesses with a trading history and multiple outlets are likely to have an advantage over a startup. Just do everything you can to demonstrate you are a viable proposition.

BTW will you be tied into a long lease? If so make sure your solicitor vets it first. I'd suggest getting all the professional advice you can, perhaps a property acquisitions agent, this is the one area of starting up your business where you don't want to cut corners.