Leasing Property in Derby: Everything You Need to Know
Leasing and renting are two words that are used interchangeably but, their meaning is not the same. Thus, signing a lease agreement on a business property is different to renting a property.
Here at RTC Business Park, we offer you handy guide to leasing property in Derby, created to help you make the right decision for your business.
What Is Leasing?
A lease is usually an agreement that spans a certain length of time, from months to years, as specified in the contract. It is a contract to rent out a building, office space, retail unit, land etc.
The lease agreement is between the owner– the lessor – with the tenant, or lessee.
To rent a property is to have an open-ended contract in which you rent a property for as long as you want, with the contract rolling over with every payment you make.
A lease agreement usually means that the owner is responsible for the upkeep of the building but again, this will be specified in your lease contract.
What Happens When the Lease Comes to an End?
You may have decided on a short-term lease for a reason – such as a pop up shop. If you want to extend your lease, you will enter a new agreement with the landlord.
When properties are popular, you may find that the landlord tells you that they will not be renewing your lease as the unit or property is being leased to someone else.
However, most landlords will keep current tenants, especially if they have proven to be good tenants, paying rent on time and so on.
Why Lease Over Rent?
There are many advantages. Many tenants with a lease feel that it gives them a better foundation on which to build their business. They have a vested legal interest in a property for a certain length of time.
In many ways, it places you in control and gives your business an opportunity to grow. If you envisage your business being in a very different place in six months’ time, for example, a short-term lease would seem to be the ideal solution.
A lease is also a great way of testing your business in a new location. Derby is a fantastic city, with lower than average house prices, a small but vibrant city centre and great transport links.
Within easy reach of Manchester and Birmingham, with great road, rail and air links to London and beyond, you can see why a short-term lease on a commercial property for rent in Derby is the ideal solution.