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.