Your financial commitments when renting business property can include:
- a premium to purchase the lease
- rental costs
- service charges
- utility bills
- maintenance and repair bills
- a deposit - typically equivalent to three or six months' rent
- stamp duty, which is payable on all commercial leases
- business rates - estimate your rate bill
Normally, the landlord will request references to confirm you are able to pay your rent and meet your rates liability. You may find it helpful to have a guarantor for your rent and other liabilities under the lease.
Energy costs for rental properties
All landlords of commercial buildings must provide prospective tenants with an Energy Performance Certificate (EPC). An EPC indicates how energy efficient a building and its services are and can act as a gauge of likely energy costs. See Energy Performance Certificates for business properties.
Air conditioning and heating systems can have a significant effect on your overall energy bills. You can make substantial savings by keeping these well maintained and having them inspected often by a qualified engineer. See use heating and hot water systems efficiently.
Structure your business
Name your business
Register your business
Choose your premises
- How to employ staff for the first time
- National Minimum Wage and National Living Wage rates
- Carry out pre-employment checks
- Ensure your workers are eligible to work in the UK
- Get employers' liability insurance
- Issue a written statement of employment
- Set up your payroll and register for PAYE with HMRC