Most commercial leases are designed to tie tenants into the lease for the full term. Leases are created to ensure that both the landlord and tenant stick to their obligations. If a commercial lease has been signed and completed, the chances are that it will be difficult to get out of. However, there are ways …
The terms ‘landlord and ‘tenant’ are often used for the purposes of discussing long leases in this context, and simply refer to the freeholder and owner of the premises which is being discussed. It is often assumed that the tenant does not hold a share in the freehold and therefore is not entitled to demand …
Before any part of a commercial property is sub-let the tenant must get the permission of the landlord, this is called a licence to sub-let. Usually, the landlord must be satisfied that the new sub-tenant will uphold the terms of the lease and that their references are suitable. Most commercial leases will include provisions regarding …
A rent deposit deed is used when a landlord takes a rent deposit to provide a fund to cover any costs that a tenant may default on. Although it is called a rent deposit, it can be used to cover more than just rent and may be used to cover the costs of damages or …
To help you get the best possible result for renewing your lease on a commercial property, it is vital to seek the advice of a professional and knowledgeable solicitor early on in the process. Many lease renewals are governed by The Landlord and Tenant Act 1954 which can be confusing without a sound working knowledge …
To help you get the best possible result for renewing your lease on a commercial property, it is vital to seek the advice of a professional and knowledgeable solicitor early on in the process. Many lease renewals are governed by The Landlord and Tenant Act 1954 which can be confusing without a sound working knowledge …
What is a service charge in relation to my commercial lease? Service charges are fees paid by most leaseholders to cover costs of maintaining the building that they lease. They will usually apply to the costs of repairs to communal areas, structural repairs, buildings insurance, freeholders’ administration charges. Service charges can also cover the costs …
What are rent review clauses The typical long-term lease will include a rent review clause which will provide for the rent to be reviewed every three to five years. It will also give details of what procedures will be followed when reviewing the rent. The landlord will usually be obliged to give the tenant notice …
If you need to exit your current assignment of business leasehold before the agreed date, you may be able to find a willing assignee to take over your lease. However, you will need to make sure that your landlord agrees to this arrangement before you make any plans. However, it is common to assume that …
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