Getting out of a Lease

7. Finding a Tenant

Unless you already know of a suitable tenant who would like to take your premises, you will need to employ a firm of chartered surveyors.

7.1 Ask for proposals from three firms and pick the one you have most confidence in.

• The proposal should outline plans for marketing the premises, including views on what the rent should be and how long the whole process will take.

7.2 Check the terms of engagement. These give details of the commission payable and the proposed expenditure on marketing.

• Which marketing costs will you have to pay, and at what stage?
• What might any extras on the bill be?
• Will the surveyors bring in other agents (at no cost to you) if they have difficulties finding a tenant to take your lease?

7.3 Provide the surveyors with full information on the premises.

• This should include floor plans and details of the lease, the fixtures and fittings, and any costs such as service charges.