Signing A Lease: Elves' Commercial Property Adventure

Commercial Property team |12 December 2023

Buddy and Chip needed to find the perfect location for their business venture, somewhere they could house their workshop. They found just what they were looking for, the perfect place to craft toys and spread holiday joy.

It was time to sign the commercial lease.

They knew it was crucial to understand the terms of their lease to ensure their workshop would thrive without any hitches. The lease would set out exactly what they could and couldn’t do, what they were responsible for and how much the property would cost. There was only one team for the job: back to Nash & Co, this time to seek support from their Commercial Property team.

The first step was knowing what to check for in the lease and to ensure it included all the agreed terms. Buddy and Chip were advised the keys points to consider were the level of rent and whether it would be subject to increase during the lease; the length of the lease; the repairing and decorating obligations in the lease (could they paint the walls red and white?!); and whether there would be a service charge payable. They were also told they should think about whether they wanted the ability to transfer the lease or sublet it should the need arise.  

Next, the Nash team ensured the lease was fair and included everything that would allow them to use the premises as they intended. (You could say they were making a list and checking it twice). The team explained each clause, ensuring no detail was overlooked.

Armed with a sense that their lease had been examined in detail, Buddy and Chip confidently signed the lease. They knew exactly what they could do, what they were responsible for and the associated costs. This meant their workshop dream was one step closer to becoming reality, without the risk of being hampered by a nasty surprise.

Buddy and Chip’s experience is an important reminder for anyone looking to lease  a commercial property: understanding the terms of your lease is vital in ensuring you can use the premises as intended and are not exposed to unforeseen liabilities. Consulting  Nash & Co will ensure you have all the knowledge needed to sign your lease confidently.

If you’d like to speak to our Commercial Property team about this, you can contact them here.