It really depends on whether
you want to rent it out short-term or long-term.
If you want to rent it out
short-term then do it by way of a licence and if you want to let it out long
term, then do it by way of a lease.
The rule in law is that the
occupier of the building is responsible for anyone who is injured on it and of
the building is not occupied, then it is the owner.
It is normal for proposed
tenant to pay the legal cost of preparing the lease or the licence or at least,
make a contribution towards it.
You might want to consider
taking a rent deposit.
You would normally make it a
condition of the lease or the license that the tenant pays for insurance but
because they would not normally do it, you arrange the insurance and collect
the insurance premium as part of the rent.
Similarly with council tax,
the council tax or business rates account is in the name of the tenant and is
payable by the tenant.
As you appreciate, there is a
lot to this and there have been volumes and volumes written on commercial leases
and the licences and therefore it is impossible to cram all that information
into a few paragraphs.
Solicitor will charge between
£500 and £2000 for drafting the necessary document depending on the size of the
building, and the rent.
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