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What is the difference between a license vs lease?

Posted By: / March 6, 2018

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A common question we get asked by many customers who are interested to rent office space in Milton Keynes is, what's the difference between a license and a lease. 

 

Are you looking to rent in Milton Keynes?

Then you need to know the difference between a license and a lease. 

Under a lease agreement, tenant has exclusive rights to possess the premises in question. They may be allowed to carry out certain alterations which of course will need to be within terms thus also being responsible for maintaing and insuring the premises. Leases cover a longer period of time, 5-10 years, with the ability to exercise the same rights as the land or property owner (subject to contractual agreements). 

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Lease agreements come with various factors that can give limited flexibility. The Tenant will be required to take care of business rates, legal fees and procedures as they involve solicitors. Futhermore, the tenant will be responsible of insuring the space, sourcing monitored alarm systems and CCCTV.    

Bucks Biz Licenses
A License agreement, has a lot more flexibility on the duration of the let and grants the tenant permission to occupy a space. At Bucks Biz, we offer great flexibility features under license agreements to our tenants which has been one of the key reasons why our tenants are with us. When renting a space with us, you have the option of renting a property for as  short as 3 months which isn't possible to have under a lease. The flexibility of upgrading or downgrading and modifying units is available to our tenants which we take care of for you.  

Legal fees and business rates are included in our licenses which is a great and helpful feature that will save you money, time and hassle! Sourcing and setting up your telecoms services can be rather costly and a tedious task which we understand and have as a feature we can provide for you to save you the hassle. A bonus of this feature is also that our telecoms contracts aren't long term in comparison to what you would be offered if self-sourced. 

 If you are a business owner looking to occupy a space and require flexibility on your license for a short or long term period, we have office spaces to let in Milton Keynes that you can occupy for affordable rates with great license benefits.