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Restaurant Leases – Tips for Tenants
You’ve found an ideal property in which to set up your restaurant and you can almost smell the aroma of your business’ success. You can’t wait to get started. The last thing you probably feel like doing is wading through the legal issues. Unfortunately, this is a necessary evil. Get your lease terms right you will reap the benefits.
Like most people who open a new restaurant, you’ve probably decided that you will be renting the property (at least to start with) as you probably don’t want to waste valuable cash on buying the freehold. So, the first thing you’ll probably need to do is negotiate the main lease terms. Landlords and agents call these terms the ‘Heads of Terms’. They’re not binding, but they do set out the structure of the deal, so it’s well worth spending the time getting the heads of terms right.
Here are some important points that you should consider including in the heads of terms:
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- Rent Free Periods
- Works
- Sit Out Licence
- Repairs
- Right to Break
- Permitted Hours
There are, of course, many other issues to think about when agreeing the terms of your restaurant lease. That said, the above should be good food for thought before you start your negotiations. If you can squeeze some of them into your lease, it could help you massively in the long run...
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Commercial Lease Information:
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Negotiating Commercial Lease Terms
How to Negotiate a Rent Free Period
The Risks of Being a Guarantor on a Commercial Lease
How Can a Tenant Exit a Commercial Property Lease?
Stamp Duty on Commercial Property Leases
Is it Possible to End a Commercial Lease Early?
Commercial Property Conveyancing Solicitors
Evicting Squatters From Commercial Property
Commercial Property Solicitors: How We Can Help
Commercial Lease Types:
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Warehouse Leases
Industrial Unit Leases
Dark Kitchen Leases
Office Leases
Hair Salon Leases
Clothes Shop Leases
Restaurant Leases
Surgery Leases
E-Cig Shop Leases
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