Do you have any property law questions? We can assist landlords with commercial property legal issues. When you finalise your lease with our team, we’ll go over the terms and make sure the contract meets your needs. Here are a few key terms to remember:
Will the rent be fixed or increased? The rent will be assessed using the open market or the RPI. In the open market, assumptions and omissions should be taken into account.
Repair responsibilities – Will the lease be fully repairing and insuring, or will repair liabilities be limited by a schedule of conditions? What are the other prerequisites? Two examples are environmental liabilities and construction flaws. If a tenant feels alienated, are there any options for assigning the lease or underletting? As a result of these factors, will you impose any rules or restrictions on the tenant?
What conditions must the renter meet in order to get a break? What if they do not take advantage of the opportunity? How did you determine the service charge? What services will you be required to provide, and will the amount you can charge for those services be limited?
There is a lot of pressure to complete the transaction as soon as possible. However, we strongly advise that you go over everything carefully to ensure that you understand all of the terms, obligations, and charges involved.You should express any concerns you have as soon as possible, as this will aid in the resolution of any ambiguities or uncertainties that may arise during the drafting process.