Leasing commercial premises, without the jargon.

A lease "inside" the Landlord and Tenant Act 1954 gives you a statutory right to renew at the end of the term. "Outside" the Act, renewal is entirely at the landlord's discretion unless separately agreed. This is one of the first things your solicitor should confirm. Read the full guide: Inside vs outside the 1954 Act.

A personal guarantee makes a company director personally liable for the lease if the business defaults. Landlords often ask for one from newer companies without a trading history — it's usually negotiable in scope and duration.

This depends on the "repairing obligations" clause in your lease. Full Repairing and Insuring (FRI) leases put most responsibility on the tenant, including for the building structure in some cases — always have a solicitor review this before signing. This is typically agreed at the Heads of Terms stage.

Dilapidations are the repair or reinstatement works a tenant may be required to carry out at the end of a lease, to return the property to the condition set out in the agreement. Costs can be significant if not planned for from day one.

Rates are based on the property's rateable value multiplied by a government-set multiplier, and several reliefs may reduce what you owe. Read the full guide: Business rates for tenants.