Written by Richard Farnworth
If you are seeking to lease a commercial property, it is vital that you have access to the right advice to ensure you can negotiate the best possible terms of lease for your business.
At Commercial Matters, we can deal with all the legal complexities on your behalf and ensure you are in a strong position when negotiating a commercial lease.
If you’d like to speak directly to one our experts about your lease, call us now on 01282 695 400.
Why is it so important to seek legal advice?
Here at Commercial Matters, our expert solicitors often talk to business owners who have entered into a commercial lease without seeking the proper legal advice. Many find themselves in a position where they are tied into a lease which doesn’t suit their needs.
When signing a commercial lease, you could be committing to investing tens or even hundreds of thousands of pounds into a property.
If you sign a lease and believe you are paying too much in rent, it can be incredibly difficult to renegotiate a better deal with your landlord.
By speaking to an expert commercial solicitor you can not only receive advice on how to reduce costs but also included break clauses into your lease allowing you to exit the lease early in certain circumstances.
Is your lease ‘inside’ or ‘outside’ the Landlord and Tenant Act?
One thing you will need to consider before entering into a lease is whether it falls ‘inside’ or ‘outside’ the Landlord and Tenant Act.
If your lease falls outside the Landlord and Tenant Act, you can lose out if you invest money into the property. When your lease comes to end, you will not have a right to renew meaning if a new lease isn’t agreed you will have to vacate the property.
However if the lease is inside the act, you will have a right to renew allowing you to stay in the commercial property.
Renewing your commercial lease
If you do want to continue to rent your commercial property at the end of your initial lease, you will need to let your landlord know in advance.
When your lease is coming to an end, your landlord may serve notice. Responding to this within the set time limits is vital to make sure you don’t lose your rights to renew.
How to contact the specialists at Commercial Matters
If you’d like to discuss your lease with the experts at Commercial Matters, you can call us on 01282 695 400.
Or, if you don’t have time to talk right now you can arrange a call back by completing our online contact form.