Once you have decided to rent a property, you will need to sign the appropriate agreement. A lease of part, a lease of whole, an agreement to share space and a sublease are all ways in which the property can be rented.
Some lettings will be needed on a short-term basis whilst others will be required for a longer, more permanent time.
There are various advantages of renting such as flexibility. The term of a lease can vary between 2 and 25 years but usually runs between 3 and 5 years. Scottish commercial leases can run for up to 175 years, however, the average lease lasts between 5 and 15 years.
A short lease with options to renew may be more suitable than a longer lease with break clauses. Upfront costs for a lease can be relatively low compared to purchasing a property. Under a short-term lease, you will usually only be responsible for the interior with the landlord remaining responsible for the exterior of the property. However, in Scotland, a landlord can contract out of their obligations regarding the outside of the property. Furthermore, you will be able to negotiate with the landlord over any aspect of the lease; the Code for Leasing Business Premise aims to provide fairness between a landlord and tenant in negotiating the terms of a lease.