Cost of reading business lease

ceewash

I have been quoted £500 + vat for a solicitor to read my 5 year business lease and offer some advice that it does what I want it to do. I am the tenant and the landlord has drawn up the lease. Does this sound like the going rate?

paddyrg

It's 3-4 hours at the usual outrageous billing rates, so yes about right for reading and insured professional advice a document that might trap you into tend of thousands of pounds for repairs, renewals etc.

Savvy_Sue

I can't comment on the costs, it's definitely worth getting a few quotes but what you want is a commercial solicitor, not one who specialises in family matters or probate. And I agree with paddy, it's not something you can afford to NOT do.

ceewash

We paid a solicitor to read the lease and she suggested some changes. Nothing too controversial but just tightening things up in our favour. Now it is about who makes these changes. Both solicitors want more money to do so(of course). Does it matter whose solicitor amends the lease? Who should pay? Our landlord's solicitor is quoting less than ours is? Landlord resisting paying to do this so I guess we will have to?