Do I need a solicitor to negotiate heads of terms?
Although heads of terms are often described as non-binding, they can significantly influence the final lease. Legal advice at an early stage can help identify potential risks before negotiations progress.
Can a landlord refuse to renew a commercial lease?
In certain circumstances, a landlord may oppose a lease renewal where one of the statutory grounds under the Landlord and Tenant Act 1954 applies.
What are dilapidations?
Dilapidations are claims relating to a tenant's repairing obligations at the end of a commercial lease. They commonly involve the cost of putting premises back into the condition required by the lease.
Do I have the right to renew my lease?
Some business tenants benefit from security of tenure under the Landlord and Tenant Act 1954, which may give them the right to request a new lease when the current one expires.
What happens at a rent review?
A rent review determines whether the rent should be adjusted during the lease term in accordance with the review provisions contained within the lease.
Can I assign or sublet my commercial lease?
Many leases allow assignment or subletting, but usually only with the landlord's consent and subject to specific lease conditions.
Who is responsible for repairs?
Repair obligations are determined by the terms of the lease. Some leases require tenants to undertake full repairing obligations, while others allocate responsibility differently.
What is a break clause?
A break clause allows one or both parties to end the lease before the contractual expiry date, provided the conditions and notice requirements set out in the lease are satisfied.
How long does a commercial lease usually last?
Commercial leases can vary significantly in length, depending on the agreement between the landlord and tenant. Common terms range from three to twenty-five years.
What is the difference between a commercial lease and a licence to occupy?
A commercial lease usually grants exclusive possession of premises for a fixed term, whereas a licence to occupy generally provides more limited rights and can often be terminated more easily.