Landlords' Issues on Granting a Lease
Our experience in commercial leases has highlighted some issues which regularly concern Landlords:
- What can the Landlord do to make sure they get paid?
- If theTenant doesn’t have a trading history what can the
Landlord do to secure the rent?
- Who will be responsible for repairs?
- Will theTenant have any renewal rights?
- What length should the Lease be?
- Will the Landlord or theTenant have the right to end the Lease early?
- Will the Landlord’s interest (subject to the Lease) be readily saleable?
- Is permission needed from anyone else before the Lease starts (e.g. a Lender or a Head Landlord?
Whether terms are agreed through your Agent or directly by you we can create a Lease which is tailored to your individual requirements
Warning for potential Commercial Landlords
Whilst it may be attractive to get a prospective Tenant into a property and start paying rent we would advise you do not allow potentialTenants in without necessary documentation in place because:-
- They might acquire renewal rights (i.e. you might not be able to get them out when you want).
- They might not be prepared to sign any documents you subsequently give to them.
- You might be in breach of any Mortgage or Head Lease requirements for consent
- Trying to regulate their position or get vacant possession may be expensive or impossible.
If you are considering letting a property please do get in touch.The cost estimate may not be as high as you expect and it could save you time and money in the long run.
Head of Commercial