A commercial property lease represents a significant commitment on the part of both landlords and business tenants, so it pays to get the right terms in place.
Every office, retail unit or warehouse is an opportunity in the making. For landlords, it’s rental income. For potential tenants, it’s a home for their business. While these interests can work in harmony, the likelihood is that at some stage they will conflict. A landlord might want to increase rent at intervals, and at percentages, which are too onerous for their tenant. A tenant might be looking for break clauses which their landlord feels do not offer the necessary commercial assurances.
Our commercial property lawyers work with landlords and with business tenants to advise on and negotiate the right terms for them. That means terms which not only allow the relationship to begin, but to continue in line with parties’ reasonable expectations.
For landlords it’s about:
- finding the right tenant
- agreeing what can and can’t be done in relation to the building
- committing the tenant to a suitable rent which may be reviewed as the tenancy continues, and
- enabling them to bring the tenancy to an end where the tenant doesn’t fulfil their obligations under the agreement.
That sounds fairly simple but in practice, it rarely is. That’s because tenants, quite reasonably, have their own agendas. The process of negotiating terms which give tenants both the security they need and the flexibility to move out or otherwise change terms, can become complex and protracted.
In a commercial environment, neither landlords nor tenants can afford to spend longer than necessary putting the formalities in place. That’s why our commercial property lawyers act quickly and incisively, getting to the heart of a client’s objectives and securing the best possible terms for them for now, and well into the future.
Typical issues dealt with by our lawyers include:
- landlord consent
- rent and rent reviews
- service charges
- assignments and sub-letting
- break clauses
- lease renewals
- recovery of possession
- personal guarantees
- responsibility for repairs