When leasing a commercial property in Ireland, businesses must consider several hidden costs beyond the monthly rent. Key expenses include:
✔ Security Deposit – Typically 3-6 months’ rent, depending on the lease length and tenant history. This deposit is held by the landlord and may be forfeited if the lease terms are not met.
✔ Stamp Duty – Tenants must pay stamp duty on leases over 35 years or with a high rental value. The cost varies based on the annual rent and the lease duration.
✔ Service Charges – In multi-tenant buildings, businesses pay for shared amenities, cleaning, security, and maintenance of communal areas. These charges vary based on property type.
✔ Insurance Costs – Tenants are usually responsible for business insurance, public liability insurance, and contributions to the building’s insurance policy.
✔ Legal & Surveyor Fees – Hiring a solicitor to review lease agreements and a chartered surveyor to assess the property’s condition typically costs between €2,000 and €5,000.
✔ Fit-Out Costs – Businesses leasing empty spaces may need to budget for interior design, renovations, and compliance with fire safety regulations.
Understanding these costs in advance helps businesses avoid unexpected financial strain when leasing a commercial property.
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