Business Backbone
Buildings and Infrastructure
Lease Agreement
Most businesses operate out of a leased premises. Depending on the importance of passing
trade, the lease agreement may be critical to the success of your client's business. If this
is so, you will need to ask the client whether they have had the lease reviewed by a suitably
qualified person and if so, has the lease been registered with the relevant Government
Department.
If the premises is sold, and the lease (and options to renew) has not been registered,
then there is no guarantee that the new owner will not ask your client to vacate the premises
(even though they may have a valid lease).
Insurances
Side tracking for a moment. The combination of insurance with a business premises is
common knowledge, however there are a variety of different types of insurance that a
business may need including (in alphabetical order):
- Business Interruption Insurance;
- Commercial Motor insurance;
- Directors & Officers Liability Insurance;
- Disability Insurance for the business owners or key employees;
- Employment Practices Liability Insurance;
- Glass cover insurance;
- Income Protection Insurance;
- Key man Insurance;
- Loss of Profits insurance;
- Machinery Breakdown insurance;
- Products' Liability insurance;
- Professional Indemnity Insurance;
- Public Liability Insurance;
- Theft insurance; and
- Workers compensation insurance.
Your clients will need to have each of these insurances explained to them, why they need
the insurance (or not). Who is going to do this - you or another professional.