All rents are payable monthly in advance by electronic transfer.
We don’t charge you for credit checks, drawing up leases, and all sorts of little extras on the side that can really add up, make sure you ask any prospective landlord about extra charges and responsibilities for insurance, cleaning and maintaining their buildings inside and out.
We do not credit check our prospective tenants and actively encourage start-up companies to base themselves here. But please only sign-up for the amount of space that your business can afford, as you should expect to be asked to leave if you fail to pay your rent for more than one month.
Before you move in, on signing your agreement to rent, we ask for a security deposit and the first month’s rent in advance. The security deposit is for the same amount as one month’s rent and is held by us until you leave. If you leave behind unpaid bills, unwanted stuff, unpaid rent or your space in a worst state than you found it, these costs to us would be knocked off your security deposit. We’re pretty fair about this though and won’t charge for fair wear and tear.
Lease or Monthly Licence
Typically smaller spaces are let on a monthly licence called a Tenancy at Will which allows you to choose to leave with one month’s notice. Otherwise we usually offer a two or three year lease with a break clause allowing you to leave after one year if you want to. Ask if you would prefer different terms, as we can be flexible.
Tenants are responsible for Business Rates on their premises but currently all of the spaces at Kingsyard have Rateable Values below the Small Business Rates Relief 100% threshold of £12,000. This means that if this is your only commercial property then you should pay no rates at all (subject to eligibility). All you have to do is fill in a simple form and send it to the local council.
The spaces are let on an Internal Repairing basis, which means that you are responsible for the internal decorative upkeep of your own space only. The structure, common areas and outside are maintained by us, normally without additional cost to yourselves. Unless you go and break something that is.
Your are responsible for cleaning your own space including the windows. Common parts and outside areas are kept clean by us.
There is an industrial bin provided in the yard for your ordinary refuse, no hazardous waste of any kind is allowed. This is included in your rent subject to a reasonable use policy. If you produce more waste than is reasonable, we will speak to you about the alternatives of paying an additional charge to us or paying for your own bin.
We provide basic insurance on the buildings included in your rent, but your contents are NOT insured by us. If you want your own contents to be insured, you have to arrange it directly yourself, as we accept no liability or responsibility for what you keep in your space.
Water supply and water rates are included in the rent subject to a reasonable usage policy.
Electricity is billed through us and separately metered for each space, the current charge is 20p per unit (Kwh) billed quarterly with no additional standing charge or VAT to pay.
Telecoms & broadband are arranged directly with your chosen provider but they will need to liaise with us on installation to locate cable runs appropriately.
Gas is only available in units 14 & 15.
Safe, Legal and Quiet Use
You cannot keep or do anything in your space that is dangerous, illegal or a nuisance to your neighbours; all tenants have to pay particular attention to possible fire risks and noise.