Even in these troubled economic times, some businesses are expanding and their owners need to lease a new operating centre. But care is needed before signing on the dotted line, as costly mistakes can arise when tenants unquestioningly accept the terms offered by landlords. Length of the lease (term): The average length of a commercial property lease has been falling in recent years. Ten- or 15-year terms are often the norm for office lets, along with the right for the tenant to terminate the lease after five and 10 years. For industrial premises, such as a haulage yard, short-term six-year leases are widely available. A tenant also pays less stamp duty land tax on a shorter term.
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