The lease is the largest contract most small businesses ever sign, and it is usually signed with less scrutiny than a used van. It sets your rent for years, it decides what happens if the building burns or floods, and in most cases it quietly asks you to guarantee it personally, which means your house is part of the deal.

Almost everything in a commercial lease is negotiable before signing and none of it is afterwards. A few hours and a lawyer’s fee here is the best value money in this whole route.

Get the draft lease in writing and read it before you negotiate anything but the rent. Owners negotiate hard on the number and accept everything else, and the everything else is where the cost hides.

Budget for a lawyer who reads commercial leases. A review of a small commercial lease is usually a few hours of a lawyer’s time, which is small against a multi-year commitment, but rates and scope vary and you should agree the fee in advance. Not yet confirmed by LAEDC. If you take one piece of advice from this Guide, take that one.