Choosing premises and negotiating terms
Choosing premises to best suit your business will mostly be influenced by your budget and how long term you think you will need to stay. This section will help you to choose whether to buy or rent, and if renting, what sort of tenancy is best for you and how to tell what your future landlord is actually offering. Find out how to identify the most important parts of a tenancy agreement when you are given one to sign, and to negotiate those terms where appropriate to get the best deal.
Choosing premises
- 1.Should I run my business from home rather than taking on business premises?
- 2.What sort of premises are best for long-term security?
- 3.What sort of premises will offer the most flexibility?
- 4.What sort of premises are best for an office-based business?
- 5.What sort of premises are best for retail or other businesses open to the public?
Buying business premises
- 6.What are the benefits of buying business premises rather than renting?
- 7.In summary, what are the costs of buying business premises?
- 8.What are the likely deposit and mortgage costs of buying business premises?
- 9.What are the likely fees involved in buying business premises?
- 10.Do I have to pay VAT when buying business premises?
- 11.What stamp duty do I have to pay when buying business premises?
- 12.What are business rates?
- 13.What business rates will I be charged on my business premises?
- 14.What running costs will I have to pay if I own my business premises?
Renting business premises
- 15.What types of tenancy are there?
- 16.What is a fixed-term business tenancy?
- 17.What is a periodic business tenancy?
- 18.What is a protected business tenancy?
- 19.What are the benefits of renting business premises rather than buying?
- 20.Can my landlord come into my premises whenever they want?
- 21.Can I renew my tenancy when it expires?
- 22.Can I make alterations to my rented business premises?
- 23.In summary, what are the costs of renting business premises?
- 24.What are the likely rent and deposit costs of renting business premises?
- 25.What fees are payable when renting business premises?
- 26.Do I have to pay VAT on rented business premises?
- 27.Do I have to pay stamp duty on rented business premises?
- 28.What running costs will I have to pay for rented business premises?
Licences to occupy (shared office space and pop-ups)
- 29.What is a licence (of business premises)?
- 30.Can my landlord come in whenever they want if I only have a licence to occupy?
- 31.Can I be forced to move to different premises if I only have a licence to occupy?
- 32.Can I renew my licence to occupy when it expires?
- 33.In summary, what are the costs of a licence to occupy business premises?
- 34.Will I have to pay a deposit for a licence to occupy business premises?
- 35.What fees are payable on a licence to occupy?
- 36.Do I have to pay VAT on a licence to occupy?
- 37.Do I have to pay stamp duty on a licence to occupy?
- 38.Do I have to pay business rates on a licence to occupy?
- 39.What maintenance and running costs do I have to pay under a licence to occupy?
Negotiating terms
- 40.How do I negotiate my tenancy agreement?
- 41.Why has my landlord sent me heads of terms?
- 42.What should I look out for in a fixed-term tenancy agreement?
- 43.What should my tenancy say about the premises and rights included?
- 44.How can I recognise a protected business tenancy?
- 45.Should I insist on a protected business tenancy?
- 46.Should I insist on a break clause in my tenancy?
- 47.What should I do if my landlord insists on a guarantee that they will be paid?
- 48.How can I negotiate rent?
- 49.Should I insist my landlord keeps my deposit separate?
- 50.What should I look out for in a tenancy agreement about repairs and maintenance?
- 51.Do I need an inventory of fixtures and an inventory of condition for my business premises?
- 52.What should I look out for in a tenancy agreement about service charges?
- 53.What should I look out for in a periodic tenancy?
- 54.What should I look out for in a licence?
- 55.What should I look out for in a shared or serviced office space contract?
Choosing between protected and unprotected tenancies
This handy guide will help you to choose between a protected and unprotected business tenancy, explaining why the differences matter in an easy to read chart. It includes: a quick guide on how to tell whether your tenancy (or the tenancy being offered if you are in the process of choosing one) is protected or not under the Landlord and Tenant Act 1954; the main differences between the two; and which is best for your business. Our guide to choosing between protected and unprotected business tenancies will help you understand what it is you are really being offered by a landlord so you can make a properly informed choice that works for you.
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Choosing your business premises
This handy guide to choosing your business premises will help you to decide whether you are best off buying, renting, taking a temporary licence of business premises (eg some desks in a shared office space) or setting up at home. It covers the main pros and cons of different arrangements, including whether you are better off considering a long or short term tenancy, and details of what type of business might benefit most from each. There are also helpful insights into some of the standard terms you might find in a tenancy or licence agreement that could affect your decision. Our guide to choosing business premises provides an easy way to confidently make this potentially big and expensive decision for your business.
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