Commercial leases can be complex for both landlords and tenants to navigate.
For tenants, the content of a commercial lease can make or break a business. Lloyd & Lloyd Solicitors can help tenants understand the details of their lease and negotiate terms that suit their long-term business plan.
For landlords, our experienced team of property law solicitors can help them exact the most value from their asset.
Seek our advice on:
The average lease is 30-70 pages long and is likely to contain terms tenants and landlords are unfamiliar with unless they have significant experience in commercial property transactions. We help tenants and landlords consider all the pertinent issues to ensure a lease reflects their business interests.
Get help now
Ensure the length of the lease matches short-term goals and longer-term plans for the business.
This can be done by CPI, a fixed increase or market review. A tenant must ensure they understand and agree with the method in their lease. They need to ensure their business revenue growth is sufficient to support the proposed increases.
Security bond and guarantees.
Naturally the landlord wishes to protect themselves against default and tenants are usually expected to provide some security (often in the order of 3-6 month’s rent) as a bond or bank guarantee. Personal guarantees may also be requested from directors of companies. It’s essential for tenants to fully understand what they have on the line.
This includes things like fit-out, rent-free periods and rental discounts. It is important that tenants fully understand the scope of their incentives and the implications for their business in areas such as tax and depreciation.