Commercial lease review: questions before you commit

01 / Practical step

Gather the entire offer

Keep the draft lease with the offer, disclosure material, plans, schedules and any written promises about works or access. Identify the version and date of each document. A rent figure copied into an email is not a substitute for the full proposed arrangement. Ask the office which attachments it needs before quoting. If something discussed with the agent is absent from the paperwork, list it as a question and show the relevant correspondence instead of assuming the discussion changed the written terms.

02 / Practical step

Turn occupancy assumptions into questions

Describe the planned activity, opening arrangements and any fit-out you expect to undertake. Ask about permitted use, required approvals, responsibility for works and the consequences if the premises cannot be used as expected. Your lawyer may need input from other professionals about planning, condition or suitability. Record who handles those enquiries. Legal review of a lease should not be mistaken for a building inspection, planning approval or confirmation that the business will be commercially viable.

03 / Practical step

Put ongoing and exit costs beside rent

Ask the adviser to explain the cost categories that appear in your actual documents, including outgoings, reviews, security, guarantees, repairs and end-of-lease obligations. Do not assign a dollar amount where none is confirmed. Discuss renewal, assignment and early-exit questions before treating the initial term as the whole commitment. The preparation goal is a list of obligations to understand, with uncertain figures visibly marked, rather than an optimistic total based only on advertised rent.

04 / Practical step

Illustrative example: review versus negotiation

A studio operator receives two proposals. One covers a written review of the lease; the other includes a round of proposed amendments. The operator asks the first firm what happens if the review identifies a clause they want changed, and asks the second what counts as an additional negotiation round. Those questions reveal a difference in service scope that headline prices conceal. Neither proposal is necessarily better until the client knows what work they need and what is excluded.

05 / Practical step

Agree the review deliverable

Ask whether you will receive a meeting, a written issues list, proposed drafting or communication with the landlord’s representative. Confirm whether advice about a personal guarantee is included and who the client is when a company and an individual are both involved. Tell the office about any time pressure before booking. Keep the final version separate from earlier drafts, and ask the lawyer how changes made after its review should be checked.

• Complete draft and schedules
• Any disclosure or incentive documents
• Fit-out and intended-use outline
• Guarantee or security paperwork
• Questions about renewal and leaving the premises

06 / Practical step

Ask how the final version will be checked

Negotiation can leave several drafts circulating. Agree which person will identify the final version and how any last-minute change is brought back for review. Keep a record of attachments and separately signed documents, including incentives or guarantees. Ask whether a final comparison against the reviewed draft is part of the fee. This practical step helps avoid relying on advice about an earlier document when the proposed commitment has changed.