UK Commercial Property Leases; Seek Professional Advice

| Posted: 16-11-2007 | Comments: 0 | Views: 37 | Rating: (51)

(?)

Businesses are being warned to avoid tempting but potentially costly shortcuts in commercial property leases. The advice comes following the publication of a new stronger code of practice that includes a step-by-step guide for tenants to negotiate a lease. Leading city law firm, Hegarty Solicitors, welcomes thecode of practice, but says it is not a substitute for expert legal advice that can often secure substantial savings for businesses and anticipate issues that arise years after a lease is signed.

New Government Backed Code

The new 'Code for Leasing Business Premises' that was launched in March 2007 by Housing Minster Yvette Cooper, has been published to clarify the process and aims to assist new businesses that are new to negotiating leases for shops and offices.

Commercial Property Partner Richard Hegarty says businesses might be tempted to try and handle negotiating the lease themselves, but it is their lack of experience that makes them more vulnerable, and they need to realise the importance of using experienced property lawyers.

Richard explained, "The new code is not compulsory but is regarded more as a basis for negotiation rather than a blueprint for a lease."

"I would strongly recommend that anyone entering into lease negotiations takes expert legal advice. The code is still quite complicated, and businesses should take into consideration the time they want to spend trying to understand the lease, and what happens when something goes wrong at a later stage"

"Also, the code is standardized but every property is different. A commercial property lawyer would able to provide specialist advice on each individual scenario and know to look for anything unusual in the lease."

Negotiating Yourself; A False Economy

He continued, "When people are starting up we know that every penny counts, and they might think they will save money handling the lease themselves. A commercial property lawyer is really like an insurance policy. We are highly experienced at negotiating leases and can often obtain a better deal than they could themselves. The savings they could make can dwarf the legal costs involved, and they have peace of mind knowing they are fully aware of their rights and commitments in the lease."

The new code suggests that landlords may not want to tie tenants in for lengthy periods. Richard says that when a company is unsure of it's future, perhaps because it is new or in an unstable market it can make sense to have a shorter lease period. However, many other businesses prefer to have the security of knowing they will not be looking for other premises or incurring moving costs in the near future.

"When you are busy running a business the last thing you want to contend with is the pressure of having to find new premises. The length of a lease is very important, and a commercial property lawyer would be able you help you make a decision to suit you and your business," commented Richard.

Rate this Article:

Current: 0 / 5 stars - 0 vote(s).

Article Tags: Advice, Richard Hegarty, Hegarty LLP, Property Code

Article Source: http://www.articlesbase.com/law-articles/uk-commercial-property-leases-seek-professional-advice-261288.html

Print article

Send to friend

Publish this Article

Author feedback

About the Author:
Richard Hegarty founded the firm of Hegarty LLP in Peterborough 1974. Website www.hegarty.co.uk. Richard Can be contacted via email at richard.hegarty@hegarty.co.uk

Submitting articles has become one of the most popular means of generating quality backlinks and targeted traffic to your website. Join us today - It's Free!

Article Comments

Add new Comment

Richard Hegarty Reviews The Proposed Reform Of The Uk Planning System
By: Richard Hegarty | 25/11/2007 | Law

The Development Of Peterborough Law Firm Hegarty LLP From 1974 To Date
By: Richard Hegarty | 28/11/2007 | Law

How Being Broken Apart Can Actually Bring Both of You Together for a Making Up Relationship?
By: dhlim88 | 07/10/2008 | Dating
Dating related articles, advice for dating, dating sites and habits all in the dating articles.

My Ex and I Have the Mutual Trust Issues to Prepare for a Making Up Relationship in the Coming Months
By: dhlim88 | 07/10/2008 | Dating
Dating related articles, advice for dating, dating sites and habits all in the dating articles.

How to Get Involved in the Making Up Process Than the Breaking Up?
By: dhlim88 | 07/10/2008 | Dating
Dating related articles, advice for dating, dating sites and habits all in the dating articles.

Why the Couples Should Learn to Make Up Instead of Breaking Up?
By: dhlim88 | 07/10/2008 | Dating
Dating related articles, advice for dating, dating sites and habits all in the dating articles.

Have You Considered Applying the Romance Advice in Order to Spice Up Your Relationship?
By: dhlim88 | 07/10/2008 | Dating
Dating related articles, advice for dating, dating sites and habits all in the dating articles.

Stop a Breakup and How to Get My Ex Back
By: dhlim88 | 07/10/2008 | Dating
Dating related articles, advice for dating, dating sites and habits all in the dating articles.

Got a Question? Ask.

Ask the community a question about this article:

Frequently Asked Questions

Teen dating
By: lestockt | 23-09-2008
My 18 year old daughter is dating a 27 year old high school drop out

How do I feel whole again?
By: IvyTamara | 21-09-2008
How do I become less attached to my boyfried? I find that I rely on him for just about everything, and then when he goes away... I feel lost. What can I do so that I feel like more my own person, and less like half a person when I'm not with him?

Tax free gift to child
By: momomodon | 26-08-2008
My husband and I want to give our daughter a money "gift" to help her buy a co-op. How much are we allowed to gift? Does she have to pay taxes on it?

What does it mean when a16 year old has a trase of ...
By: ricky42 | 22-08-2008
what does it mean when a16 year old has a trase of blood in his urine

I am planning on marry an army person. I have a ...
By: Wendy | 17-08-2008
I am planning on marry an army person. I have a son whos father will not let me move. Papers state I can only go 100miles. can he fight for legal custody after we marry? What options does the military have after we are married or none?

I have a 8 month old puggle she keeps peeing on my ...
By: gloria | 15-08-2008
i have a 8 month old puggle she keeps peeing on my bed help

Q&A Powered by:

Latest Law Articles

Americans with Disabilities Act of 1990
By: Art Gib | 13/10/2008
Disabilities can affect a person's life in a myriad number of ways. Whether a disability is new to you or not, it would be wise to learn about the protections you have and where you can turn for help. Read the following article to learn about reasonable compensation and sources of help.

San Francisco Bankruptcy Attorney-Find the Right San Francisco Attorney For Your Bankruptcy Case
By: William Perry | 13/10/2008
Looking for the right San Francisco bankruptcy attorney? This is definitely a difficult process, and most people don't even know where to start their search other than the yellow pages or the internet. However, when you do a few simple steps before this, you can actually eliminate these two mediums altogether...

When to Hire an Employment Attorney
By: Art Gib | 13/10/2008
There are several different scenarios in which employers and employees may need the services of a qualified employment attorney. If you fall into any of the following situations, start looking for some legal counsel in your area.

Employment Law and the Road to Settlement
By: Art Gib | 13/10/2008
There are many different aspects of employment law and it can often be hard to prove your case. That is why so many people hire a qualified employment attorney. For more information on employment laws and settlement, read the following article.

Personal Injury Lawyers Should Be The First Number Called After An Accident
By: Rick Hendershot | 12/10/2008
Does this sound familiar? You have been injured in a car accident, a work incident, or any other kind of accident that has caused you personal pain. You understandably want to get your medical bills paid for, and you want compensation for the pain that you are suffering.

Effective Ways To Stop Debt Collector Harassment
By: Rick Hendershot | 12/10/2008
Debt collection harassment is an annoying and embarrassing experience for anyone to go through. Luckily, there are ways to stop debt harassment, if you know your rights.

10 Reasons People Quit Law School
By: Mark Warner | 11/10/2008
There are many reasons why people quit law school - it's a difficult and taxing time for any students, and thousands quit at the start of their first year. This article takes a look at why students quit law school.

Things Your Lawyer Wish You Knew
By: Mark Warner | 11/10/2008
Lawyers are quietly looking out for us (their clients), but that doesn't mean that they sometimes wish we knew more about business law basics so that we could avoid common pitfalls. Check this article out learn more.

Article Categories

Article Marketing

Article Notepad

Stop Duplicate Content

Term Papers

Need Help?

Sign up for our email newsletter

Receive updates, enter your email below

Use of this web site constitutes acceptance of the Terms Of Use and Privacy Policy | User published content is licensed under a Creative Commons License.
Copyright © 2005-2008 Free Articles by ArticlesBase.com, All rights reserved. (0.18, 16)

UK Commercial Property Leases; Seek Professional Advice

Article Comments

Related Articles

Got a Question? Ask.

Latest Law Articles

Need Help?

Site Links

Webmasters

Business Info

Sign up for our email newsletter