- Pauline offers Sports massage for injury and rehabilitation as well as Mindful massage for relaxation, stress reduction and general well being.
- She has been subletting her current property since 2018.
- During lockdown, the person she was renting from informed her that they were in dispute with the landlord which has led to the threat of eviction
- Her husband, who received the London Business Hub newsletter showed her the Property Advice Service details.
- Pauline registered for a webinar and a one to one session to better understand her rights, and what key elements she needs to consider as the principal tenant in a new property
- Also Pauline realised the landlord dispute had put her in a difficult position, in terms of her own business as she had no control over the current circumstances. She needed to know legally where she stood and what actions could be taken.
1:1 session outcome
- Pauline was advised first to get a solicitor who could guide her on legal issues with her current landlord of the subletting arrangement.
- Secondly, if she potentially finds a suitable premise she was advised to create a suitable lease as “subject to negotiation” for prospective landlords to consider. (They may not consider the legal costs of drafting a lease that does not meet certain pre-conditions e.g a minimum term of 5 years with a 3 year break clause and 3-6 month rent deposit).
- Pauline does not feel ready to move from this property yet, as she would like to connect with a network in her field, to find possible partners, as the new lease allows her to plan ahead. She realized that she needed to have a tailored plan.
- In the meantime with her new found knowledge she was able to enter into a new subletting agreement with her current landlord on better terms.
- Pauline’s words were “I would definitely recommend the service to other businesses, as it doesn’t matter how big or small you are, the lockdown made SMEs struggle, and business owners need advice on how to deal with the on-going ramifications”.
- The information that she received from the webinar and 1-2-1 sessions, on business rates/understanding leases,has better prepared her for searching and taking on a commercial space in the future as the principal tenant.
Renting a property can be an expensive and complex part of running a business. That’s why the London Business Hub has launched the Property Advice Service to help businesses find the right space and fully understand the costs/issues associated with renting a property.
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