How to create a small business lease?

Flappersmkip

Hi, I'm starting a new business very soon as a portrait photographer. I've spotted the perfect start up spot, on the high street among several schools, lots of footfall. So the property is a must and the rent reasonable. The landlord has agreed to a 6 month rent free period and a slightly reduced rate for the next 6 months. So a decent deal. Trouble is he told me when we met that a five year lease with a yearly break clause was fine. But following major work - most of which I've overseen, and some (ie ripping out old stud walls) I've completed myself - he's saying he's not prepared to pay towards. We agreed to share the cost of a lease, as it protects us both, only seems fair. But now he's trying to wiggle out. Is there a way of creating a legal contract lease cheaply or how can I approach him now. He did agree before he realised what work was needed to get the shop ready to let, plus his Father just passed and I don't want to push..

Please help!

Regards Sam

Mistral001

You need to see a solicitor and take their advice. It is obvious that the landlord has taken legal advice late in the day and now knows what his rights are. Also he is now in a good bargaining position as you have done quite a bit of work on the building at your own cost and cannot easily walk away.

Flappersmkip

Is there any way of creating a lease online cheaper than paying for a solicitor?

Savvy_Sue

Flappersmkip wrote: »

Is there any way of creating a lease online cheaper than paying for a solicitor?

Even if there is, my advice would be that you cannot afford to do this on the cheap.

Also just wondering, is this the first time he's let the property out?

What is it he's not prepared to contribute towards, the cost of preparing a lease, or the cost of the works you've done?

Personally I'd have said it was up to the landlord to present you with a lease (and pay for any legal advice he needs in the process), and for YOU to take legal advice over the meaning of the lease, whether all the terms are reasonable, and whether you want to haggle over any.

If it's that he's not prepared to contribute towards the work you've done, then a) in an ideal world you wouldn't start before signing a lease; b) there might be terms in the lease you'd want to negotiate about alterations, repairs, and how the property is to be returned; c) I wouldn't expect a landlord to contribute towards 'tenants improvements'.

Be (very) aware that if your lease says the property is to be returned in the state it was first let in, that would mean you could be expected to reinstate the stud walls.