For those who can’t remember the recession last time around here’s a reminder! In 1990 one-bedroom flats in West London were being auctioned for £50,000 and in town centres throughout the country, empty shops were occupied by men with loud speakers shouting out a nice line in perfumes, with five pairs of socks, all for a £1 and wrapped up in a black bin liner! Those heady days!

This time round we know what to expect, so here’s a checklist to remind you on how to keep your occupation costs under control:

1) Have you checked that your business rates are as low as possible? If you are not sure or can’t remember call us for a free assessment. You have nothing to lose and everything to gain!

2) If your premises are ever affected by building works or traffic schemes. Call us as soon as they start, as we can advise you on whether your business rates should be reduced as a direct consequence!

3) Vacate or mothball all areas that you do not fully utilise. We can advise you on empty rate legislation for offices, shops, and industrial premises and how to maximise rate savings.

4) Sub-let any surplus or redundant offices on an inclusive basis of rent, rates, and service charges.

Despite the weak economy, there will be many start-up enterprises willing to pay good a rent for a short-term commitment. Offer six or twelve month licenses and take up rent deposits.

5) Do NOT allow rent reviews on your premises to pass by without taking action to conclude them i.e. don’t ignore the review because you don’t hear from the landlord! In recessionary times, tenants are often approached two to five years after the review date and they often erroneously agree to a nominal increase just to make it “go away”! However, they fail to realise it can lead to a request for back rent and a penalty interest payment! Call us first. We can advise you on how to conclude a rent review at nil increase.

6) If your rent or lease terms are going to cause your business to fail, call us and we will advise you on whether your landlord might enter into negotiations to restructure your lease? In these recessionary times, your landlord would rather have a tenant paying some rent than none! Your landlord really doesn’t want a vacant property on his hands in this market.

7) If you are thinking of downsizing or moving to new premises, call us. We can act on your behalf, advise you on all valuation, legal issues, and all statutory requirements for leasing and purchasing.