Commercial Property Management
Many rural property owners will have let part of their yard or buildings at some time or other without consideration of the real implications of doing so, particularly if there is no agreement in place.
Importantly if an existing tenant is renting property without an agreement it isn’t too late to enter into one. If structured correctly, an agreement can prevent a tenant obtaining security of tenure and it is increasingly important that tenants have written agreements, so that each party know exactly what their obligations are.
Lenders can often become concerned about tenants who have security of tenure, because their occupation can de-value a property considerably. Inheritance tax and business rates as well as planning permission implications should be considered too.
Moule & Co pride themselves on having the best practical experience to be able to advise on letting property for non-agricultural uses. We can help set up, and fully manage, any form of commercial letting.
Some points which should be considered when letting property for non-agricultural uses:
- What is the rent?
- Is there a rent review?
- Is there a break clause?
- What is the duration?
- Who pays insurance?
- Who does what repairs?
- Record of condition before entry Are alterations permitted?
- What are the permitted uses?
- Planning consent Business rates Can the tenant sublet?