Singing Pig

I am looking at buying a shop with a flat over it.  I put in a bid for both the flat and the shop, but another investor has put in a higher bid for the flat.  I am going forward with buying the shop and I can create the lease for the flat above.  I was looking for ideas of what to put in the lease.  I realise a solisitor will have to draw up the lease, but I want to steer him into the writing the lease to be finacially benificial to me.

 Some ideas i was looking for would be should I set up a management company to collect their portion of the insurance, ideas on maintenace costs, ground rent, etc.  I realise this is an open ended question.

 I am looking at renting out the shop on a fully insuring and repairing lease. 

Thanks for your help.

 Ian

It depends on what type of lease you want to put in place for the flat. If you want to put a long lease  (e.g 99years) in place to get a hefty premium then most buyers will not accept onerous terms, or if they do they will pay less for the lease. The reality of it is that whatever terms you put in the lease that may be financially beneficial to you in the future there will in all likelihood be a corresponding decrease in the premium that you get,

 As for a management company point I doubt it's worth it for a single flat.