Tips On Negotiating A Commercial Lease

[Peter54]

I have been looking at commercial property for lease around Dublin city and have set my eye on one in particular.

What would be classified as a good lease deal?

With times been so tough I have asked for a large chunk of the rent to be cut. They have agreed to this but having spoken to some business owners in the area they said I need to negotiate a better deal for myself.

Any tips would be more than helpful please.

 

[Brendan Burgess]

It's difficult to give much general advice.

1) Look for a low rent.
2) Make sure that you have a break clause after, say, 3 years so you can exit without penalty.
3) check how much rates, insurance and repairs you will have to pay.
4) If you need time to fit out the premises, ask for a rent free period

But you are looking for a package. You are also looking for a fairly medium to long-term relationship with your landlord. I am not suggesting you overpay, but screwing someone into the ground might not be the right approach either.

As has been mentioned elsewhere, make sure that the previous tenant has paid the rates or else you will be liable for them.

Brendan