Assisted By Holly Pitt
An important concept to consider when negotiating a lease is the
length of your term as ramifications can arise in regards to the
term of lease - including how the term can affect the value of your
business, particularly when goodwill is driven by location.
Sometimes, depending on who the landlord is, it may be difficult
to get the term length that you desire. Some landlords may have a
maximum term while other landlords have a policy of not agreeing to
options to renew. You should consider the impact of this on the
viability of your business.
It is also important to consider the commencement date of your
lease. For instance, if the commencement date coincides with a
slowdown in the business cycle, you may struggle to establish your
business. You should also take into account other factors which may
affect commencement: whether or not you have received all relevant
approvals, if the fitout has been fully completed and when trading
can
