Once the tenant’s offer has been accepted by the landlord, the terms for the new lease will be negotiated between the parties, usually through a commercial estate or letting agent. Once agreed, formal Heads of Terms (‘HOTs’) will be circulated the parties’ solicitors.  Landlord and tenant may wish to instruct their respective solicitors during the initial negotiation stage, to ensure they are fully aware of the obligations and potential liabilities created by the HOTs. That said, the HOTs will be ‘subject to lease’ – they are not binding until the lease has been finalised, although any attempt to vary the terms at a later stage, may risk damaging the working relationship between the parties. The landlord is responsible for drafting the lease based on the HOTs, as well any other transactional documents. This may include an Agreement for Lease (or contract to enter the lease subject to Fit-Out works), Licences for Alterations, and Rent Deposit Deed. Consideration should be given to a proposed fit-out of the premises upon completion, as well as general business considerations, from tax matters and planning permissions to strategy and the practicalities of operating a functioning business from the premises.