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Home Starting a business Company formation V sole trader Negotiating a Lease/ Purchase of premises Finance Accident claims Property Wills and probate Useful links Contact us How to find us		Home > Starting a business > Negotiating a lease/purchase
		Many small businesses start from home and therefore the need for premises does not arise. However, most business start-ups involve the sourcing of suitable premises. One of the critical issues involved in business start-ups is finance and therefore in most cases it is unlikely that premises will be purchased immediately and therefore most new businesses opt for the lease of premises. This will enable them to be more flexible because the business may outgrow the premises within the short to medium term. It is also unlikely that a new business will wish to commit itself to the repayment of a mortgage, which would be required in the case of purchase of premises. A business starting out will prefer an oral Lease permitting the Tenant to occupy on a month-to-month basis. This might seem attractive in the short-term but in the long-term there is very little security for the Tenant and therefore most small businesses will opt for a short term Lease of between three and five years. This will guarantee the security of tenure for the period of the Lease. A Lease is an agreement between the Landlord and the Tenant, which will clearly set out the rights and obligations of both parties. In broad terms the Tenant will be allowed to occupy the premises in accordance with the terms of the Contract free from any interference by the Landlord provided that the rent is paid. The Tenant also has the protection of legislation. More: Negotiating a lease checklist Getting out of a Lease

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