Small business leasing commercial property-do I need solicitor?

dawnymp

I am a small business looking to lease a commercial property. I have negotiated the terms of the lease with the landlords agent, but was wondering if I need a solicitor to represent me in the transaction.

Also I wonder what sort of fees I might expect?

Thanks

ukbill69

You dont have to, but there are lots of big legal words in the contract that you might not know what you are signing. I managed to take mine into a commercial solicitor for £100. Some will charge £100-£800, depending who you go to and what they will do. Most charge about £100-250 per hour.

ciano125

Alternatively a Chartered Surveyor might be able to help you. How do you know you've got the best possible deal by the way? Do you have details of other similiar lettings in the area?

moneypooh

I'd always get someone to look it over for you and check you understand the implications and terminology.

fc123

dawnymp wrote: »

I am a small business looking to lease a commercial property. I have negotiated the terms of the lease with the landlords agent, but was wondering if I need a solicitor to represent me in the transaction.

Also I wonder what sort of fees I might expect?

Thanks

I would deff get a solicitor to look over it.
What are the terms?...sometimes people think they have signed a lease in the name of their Ltd Company and it was in their personal names.

If it is in your personal name, you have given a personal guarantee....very difficult and expensive to get out of if things don't go to plan.
Also be sure you get a break clause or 3 somewhere in it too.

Jamey_Johnson

Starting a small business can be hard work. I think you should hire a right mentor then a solicitor. If you a new in business, it's important to take the suggestion from the experts.

Colin2511

hi I agree, we had a first lease that we took in and simply signed, - without advise , it all ended ok, but for our next lease with new landlord we got a solicitor, and was very glad we did, terms we had agreed ie break clause, not contracting out of landlords and tenants act, work they were to complete to convert the building suddenly disapeared or changed in the small print, even to the terms of the deposit, our solicitor was like a little terrier and well worth his eye watering fee