Business Leases

We all live in a complicated world full or rules and regulations. Whether you are a landlord wishing to grant a lease of business premises or a tenant who wants to take a lease you will find that the procedure is not as simple as just agreeing the amount of rent and the length of the term.

A business lease regulates the relationship between the landlord and tenant and embodies all of the rights and obligations affecting the property. Amongst other things it may record rights of way, rights to use shared facilities, rights of parking and rights to use services. It may contain provisions for upward only rent reviews, clauses allowing the tenant to break the lease on certain terms and will include requirements for the tenant to make various payments including but not limited to rent, insurance and service charges. It may require the tenant to pay for maintenance of the building in whole or in part. T

he lease will usually contain rules which govern the ability of the tenant to assign or underlet and will incorporate an often lengthy set of obligations and covenants which must be observed by the tenant. For the landlord there should also be provisions which set out his rights and obligations.

This listing is a brief flavour only and is not intended to be exhaustive. There will undoubtedly be other terms and conditions contained within the lease which you as landlord or tenant must be aware of. Each lease is different and reflects varying situations so clear legal advice should be taken from the outset.

The lease is often a complicated document which contains many legal terms which the layman can find confusing. It is should strike a proper balance for both landlord and tenant. To achieve that, for the landlord, a lawyer with knowledge and experience in this complex field should be asked to prepare the lease on his behalf.

If you are the tenant it is important that your lawyer is competent to advise you fully on the commitment that you are making so that there are no unpleasant surprises in the future. On a new lease your lawyer can negotiate with the other side so that the document records the intentions of the parties.

Once the lease is made it generally forms a binding contract which binds both the landlord and the tenant until it comes to an end. Your lawyer should have both knowledge and experience in this area of the law.

At Alston Ashby we have solicitors who have practised for many years in the commercial sector and who can offer you the support you need.