leasing-a-commercial-property

8 Issues to Consider when Leasing a Commercial Property

Most businesses don’t own the premises they work from, but lease them. A lease is much cheaper than an outright purchase and you have the option of not renewing it when the time comes if you think your business could do better in a different area. It is important to consult Perth property lawyers before signing the lease, especially if you don’t know much about them.

Here are some lease issues to consider before you sign on the dotted line.

  • Make sure the term of the lease is long enough for you to recoup the investment and make a profit. Landlords are under no legal requirement to renew the lease. Plus, when they do renew they have the right to increase the cost.

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conveyancing

Can I do My Own Conveyancing

All the legal work done in buying or selling property is called conveyancing. It is usually done by a conveyancer or commercial lawyers, both of whom are fully trained and experienced in such matters. Of the two, the solicitor can give you better legal advice than a conveyancer. However, if you are a detail oriented person, you may be able to do the conveyancing yourself. The only thing is you can be liable for the loss if something goes wrong with the sale.

Conveyancers and commercial lawyers take out professional indemnity insurance to cover them for the possibility of loss. You can also do this, but it is unlikely that you would be able to take out the same amount of insurance as a professional person. And by the time you pay for this and all the other costs involved, you don’t really save much.

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