Here are 10 common mistakes to avoid when negotiating a business lease.

  1. Talking about the rent and lease length before dealing with all of the points below.
  2. Not inspecting the premises before talking about terms.
  3. Not fully considering all initial leasehold acquisition costs.
  4. Not considering all occupancy/ running costs and mitigating those in lease negotiations.
  5. Not considering exit costs and mitigating those in negotiations.
  6. Not aligning leasing strategy with your business plan.
  7. Not considering the landlords motivations (to what extent is cash king?)
  8. Agreeing to break options that have onerous conditions attached to lease
  9. Relying on what the leasing agent tells you instead of doing your own due diligence.
  10. Leaving your business lease negotiations to your solicitor who hasn’t inspected the property and doesn’t know the market.