How to Rent Commercial Property in London

Instructions

• 1

  Determine Rent

  
  

  It is necessary that a landlord of commercial property must first determine the amount of rent that he or she expects from a tenant. The idea about rental fee can be determined by reading ads of commercial properties that are available on rent in areas near by landlord’s property. Or with the help of reputed real estate dealer, who deals in commercial properties.
• 2

  List Commercial Property for Rent

  
  

  Once the landlord has figure out the amount of rent that he or she will demand from the potential tenants. Then, he or she will find ways to list their commercial property for rent. Usually following methods are used to reach potential tenants.

  
  

  (a) Newspapers: Listing your ad in local newspapers is a common method to attract potential tenants. Get in touch with the advertising department of any local newspaper, after paying a fee; that depends upon the ad, they will publish your ad.

  
  

  1. Telegraph

  
  
  
  
  

  2. Daily Star

  
  
  
  
  

  3. The Guardian

  
  

  
  

  
  

  (b) Real Estate Agents/Dealers: Second approach to put your commercial property on rent is through a reputed real estate agent or dealer. In exchange for his or her services real estate dealer will charge landlord with some fee, which may vary from dealer to dealer.

  
  

  1. Wilson Estate Agents Ltd

  
  

  
  

  
  

  2. Elliot Michael Llp

  
  
  
  
  

  3. Haart Estate Agents

  
  
  
  
  

  (c) Real Estate Websites: Third option for a commercial property landlord is listing his or her asset with the help of online available real estate websites. Most of these websites do not charge any fee for listing such ads. The best way to make your ad stand out among the rest is that landlord should give all details along with few recent pictures of his or her commercial property.

  
  

  (1) Visit Find a Property Website

  
  

  (2) Visit Pearl & Coutts Website

  
  

  (3) Visit Savills Website

  
  

  OR

  
  

  Landlord can put the advertisement of the commercial property in the nearby shops or shopping malls.
• 3

  Go Through All Offers Carefully

  
  

  After listing the advertisements on different places landlord will start receiving offers. This is a crucial time of the deal, as a wrong selection will really hurt the owner in the future. Therefore, carefully go through all the offers and only after close examination short list three or four of them.
• 4

  Check Authenticity of Tenant

  
  

  Ask the potential tenant to provide his or her bank statements, few personal references and credit history. In addition to that also demand first two months rent in advance along with security deposit from the tenant. Only after verifying aforementioned records you can move forward in the deal.
• 5

  Accept Offer

  
  

  If the landlord finds the records of tenant in order then, he or she will finalize a tenant out of his or her short-list. Don't forget to make sure that your selected tenant must either meet your demand of rental fee or negotiate with the renter in order to proceed with the offer. Once the offer comes within your range don’t hesitate to accept it.
• 6

  Hire a Solicitor/Lawyer

  
  

  Now landlord will begin the legal formalities and to handle this matter, services of a reputed solicitor or lawyer is required, so there wouldn’t be any confusion left between landlord and tenant after the agreement.

  
  

  (a) Gelberg Solicitor

  
  
  
  
  

  (b) Blueprint Property Lawyers

  
  
  
  
  

  (c) Abrahamson and Associates
• 7

  Giving away the Possession

  
  

  Following the legal formalities landlord will accept the advance rent and security deposit, in exchange to that he or she will give the possession of their commercial property to the tenant.