Renting premises

[Newrumpus]

I am looking at a potential premises to rent this week. Is negotiation on the rental price expected or is it likely to be fixed as quoted?

Absolutely negotiate

Thank you for the emphatic response. Would I just make a suggestion to the agent as with a residential property and see what they come back with?

You can go in with a new amount overall or request a rent free period initially (usually agreeable if works need to be carried out before you can move in). It's worth knowing if the property has been empty for long, how quickly properties are let out in that area, and whether the rent has already been reduced. The longer the lease length you sign, the more likely the owner will negotiate.

There may also be clauses about rent increases in your lease. It is worth consulting with a solicitor before signing. Costly but worth it if you don't know what you're doing.

Commercial leases will often allow a short rent free period (maybe a couple of months) at the start but rarely (in my experience and we've had several) can you negotiate on price until its time to renew. Check carefully for rent increases (usually annual) and break clauses. Also if there's a penalty for leaving the lease outwith the break clause or full term of the lease. As a PP has said you need an experienced commercial lease lawyer if you haven't had a commercial lease previously. (We used one every time we signed a new lease just to make sure it was fair to both sides.)

Thank you. This is very helpful.

Yes, don’t sign a long lease without break clauses.
Definitely negotiate the rent
Possibly also a rent free period if you need to spend money on the unit. Look out for communal charges and buildings insurance - unscrupulous Landlords will try to make money on these too.
Make sure lots of photos are included in the Lease if you think it’s not in great condition, so you don’t get huge charges for repairs when you surrender the Lease.
Been a few years since I’ve negotiated on Commercial leases so I’m struggling to remember everything!