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What are the most important terms to look out for in a lease agreement for business premises?

Key terms in a lease include:

  • How long the lease is, and what flexibility you will have if you want to leave the premises before the lease comes to an end.
  • What the costs will be, including rent and any service charge.
  • What your responsibilities are for repairing and maintaining the premises, and what restrictions there are on making alterations.
  • What types of business the premises can be used for.

A full lease agreement can be very lengthy and detailed. It’s important to get professional lease advice to make sure that you understand exactly what you would be agreeing to. For example, you could be required to maintain the premises in good condition — even if repairs are already needed when the lease starts.

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