How to work out how much space you need
Area is the amount of space inside a figure. So imagine the grid lines on the picture below mark off floor tiles and that each of the floor tiles are one metre or one foot squares. To find the amount of space in the object you need to count the floor tiles inside the figure.
You can enter the area you need either in square feet or square metres.
| Lessee | Tenant |
| Lessor | Landlord |
| Lease | A contractual agreement between landlord and tenant |
| Freehold | Outright ownership of property and the land it stands on |
| Leasehold | Temporary/limited ownership of property, or part of property, under a lease agreement. |
| Licence | A more limited right to the use of property than a leasehold, but usually more flexible. |
| Rent Reviews | Periodic reassessment of the agreed rent. Usually ‘upward only’ – meaning that the rent can go up, but not down. |
| Subletting and Assignment |
The ability to legally allow another person/organisation to occupy all, or part, of a leasehold property. (If you sublet, you remain responsible for it; but if you assign it you generally don’t - the responsibility is then between landlord and assignee). Tenants should check before signing the lease that subletting is allowed, as this is not always the case. |
| Early Termination / Break Clauses |
A contract condition that allows a landlord, tenant, or both to end the lease early - for example, on three months notice, or on some specific event. If you sign a lease, you are contractually liable to pay the rent on that space for the full period of the lease. However, a lease with break clauses gives earlier dates on which the contract can be terminated. |
| Nominal or Peppercorn Rent | A bare minimum rent (a legal technicality as a valid contract has to include some price).Lewisham Council does not grant leases on this basis – it has to charge a full ‘market rent’. However, some other organisations may use this arrangement, in return for the tenant undertaking onerous repair works or some other form of return or reward such as teaching. |
| Rent Free Period | A financial inducement sometimes given to a new tenant, usually in lieu of work needed on the premises before occupation can take place. eg refurbishment or redecoration. |
| Legal Help | Legal Services Commission www.legalservices.gov.uk
National Citizen’s Advice Bureau www.nacab.org.uk |
| More Property Information | Visit www.rics.org/about_us/property_solutions for more general information about property. |
| Occupation Costs |
Rent, or a mortgage repayment, is just one cost you will pay on a property. Other costs include: business rates, utilities, (electricity, gas, water, phone), and service charges (waste disposal, repairs and maintenance, cleaning, insurance and security). For more information on space and business advice for artists, visit www.anweb.co.uk |
| Public Liability Insurance | Public liability insurance is designed to cover you against damage to property, and/or, people occurring in the course of your activities. Especially important for self-employed people. |
| Deposits and Sureties |
A deposit equal to a month’s (or a quarter’s) rent is usually payable along with the first rent payment, in advance. A landlord may ask another person to stand as surety (or guarantor) for a tenant in case they default on paying the rent. A new business may require a larger guarantee, or a rent bond. |
| Taxes |
Income tax, corporation tax, capital gains tax, VAT.There are various tax implications in relation to both freehold and leasehold properties. These are complex, and dependent on individual circumstances, (property, legal and personal). It is advisable to seek professional advice before committing to any major expense. More information at www.inlandrevenue.gov.uk/index.htm |
| Business Rates | Visit www.lewisham.gov.uk/business for information |
| Planning Permission | Planning permission may need to be sought from the Council. Contact the Lewisham Planning Department on 020 8314 7400 for more information, or go to www.lewisham.gov.uk/business/planningcontrol.asp |
| Building Regulations |
You may also need to seek building regulations consent. Contact Lewisham Building Control on 020 8314 8233 for more information. |
| Health and Safety |
Regulations exist to protect tenants from fire, gas, and electrical hazards, but make sure that your landlord has had any equipment and furnishings tested, and that you have appropriate fire extinguishers if you are working with or storing flammable materials. Go to www.hse.gov.uk for further health and safety information. |