Renting business premises

Introduction

Finding the right premises for your business is crucial.

A key decision is whether to buy or rent property. Renting premises ties up less capital than buying which means you can invest it in the business instead. It can also give you flexibility to relocate easily should you need to.

The type of premises you rent and the location will be partly dictated by the type of business you are running. The amount you can afford - taking into account extra costs such as business and utility rates, and building insurance - will also be a deciding factor.

This guide outlines the things you should consider before deciding whether renting is a better option for you than buying. It describes your responsibilities as a tenant, the practicalities you need to consider and the type of expert help you can get to make the renting process as trouble free as possible.

Subjects covered in this guide

• Introduction
• The advantages of renting premises
• Finding the right premises
• Types of property rental agreement
• Practicalities of renting premises
• Financial considerations when renting premises
• Your responsibilities as a tenant
• Alterations to the property
• Rent reviews and ending the property rental
• Here's how we decided renting premises was best for our business

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