Commercial Lettings Process
At Motis Estates Commercial Agents in Folkestone, we assist both Landlords and Tenants in finding industrial, retail and office properties in the Folkestone, Hythe and Hawkinge areas.
How it works
Occupiers regularly tell us their biggest frustrations when trying to secure new premises in the past, where how long it took to get the lease completed and that they often didn’t understand what they had signed until after. At Motis Estates Commercial Agents in Folkestone, we endeavor to remove both of these issues from your process of moving into new premises.
So, you are looking to start, relocate or expand your business? Do you want to keep things simple?
First Steps…
Contact us and we will do our best to find your ideal premises in the Folkestone, Hythe and Dover area. If suitable properties are not available currently, our team may be aware of premises coming available in the near future that may be of interest.
Once you have identified your ideal property….
Once found, you will be asked to put a proposal forward which will include Heads of Terms for the Commercial Property. These will include items such as:
Rent: payable monthly or quarterly in advance.
Insurance: building insurance and the cost is reimbursed by tenants once a year. Note that you will be responsible for contents insurance and other insurances associated with your business
Estate Service Charge: where units are situated on an industrial estate, the common elements are managed e.g. landscaping and lighting of shared areas. The annual budget for running shared areas is apportioned by unit size and charged quarterly in advance to each occupier on the estate as “estate service charge”. The landlord remains responsible for costs apportioned to vacant units
VAT: is chargeable on some commercial properties
Repair: You will be responsible for the repair and maintenance of the property from lease commencement. It is likely that most leases will be of a Full Repairing and Insuring nature or an Internal Repairing Lease with a service charge if it is within a building of more than one property.
Proof of Identity: Proof of identity and address will be required. Generally, a copy of passport or driving
Security: Landlords will usually seek to secure a rental bond equivalent to 3 – 6 month’s rent,
Alterations & reinstatement: Structural alterations to buildings are restricted but non-structural alterations are usually permitted subject to giving prior written consent. You will need to reinstate the property when you leave.
Landlord and Tenant Act 1954: The Landlord & Tenant Act 1954 gives tenants rights to stay in business premises when their lease ends, except in certain situations for example when a tenant might have persistently failed to pay rent. The Act requires service of various formal notices and sets out legal procedures and notice periods that need to be followed strictly by both parties. Landlords and tenants can be required by the other to continue the lease after lease expiry should they get the notices or procedures wrong.
Accordingly, some leases are excluded from the security of tenure provisions of the Landlord & Tenant Act 1954 Act. This means you will give up your rights to renew the lease so we always recommend you should get professional advice to ensure you fully understand this requirement. However, you will still be able to vacate the property at lease expiry and should you wish to stay, we can discuss a new lease without having to go through the Act’s formal procedures.
When signing your tenancy document, you will also need to sign a statutory declaration in the presence of a solicitor, stating you have read and understood our notice relating to the exclusion process. Solicitors usually charge £10.00 for this service.
Final Steps….
Before you are asked to sign your lease, please ensure you have fully understood each of the proposed lease obligations. Once you have returned the documentation to us and any initial sums have been paid, you can have the keys to your new premises. You will need to sort out utility supplies and telecoms but after that, all you have to worry about is running your business.
Source Kris Foster
