When renting a commercial property, a premium is a sum paid to the landlord upon the granting of a lease. Premiums are normally met with rent payable unless the lease is determined to be less than full market rent. A premium will usually take the form of a cash payment, however, it can be formed on a “money’s worth” basis. For example, a tenant might agree to undertake remedial work on the building on behalf of the landlord, and for the benefit of the landlord.