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Sole trader - joint commercial lease on office - trepidatious

tikkitakki Posts: 4 Newbie

24 June 2024 at 4:10PM in Small biz MoneySaving

I am using an office that a colleague sublets to me part of the week. The property is being redeveloped by the landlord so we have to leave. As the lease was due to run out we have agreed to look at a joint lease on the next property.

Landlord wants money to be paid from one account and colleague has already arranged with their broadband provider to shift address.

If all payments are made from my colleague's account, should I ask them to provide a receipt every time I transfer money to them for the rent and the broadband and the electricity, which the landlord will bill separately? Will these receipts cover me if I am audited?

I am contemplating the legal lease on one side and a kind of 'gentleman's agreement' with my colleague on the other! Any thoughts on what I need to consider? Colleague is used to calling the shots as current room is in their sole name and it's their furniture etc. that we've both been using.

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Sole trader - joint commercial lease on office - trepidatious

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