Some Questions to Consider When Granting or Taking a Commercial Lease

Start Date

Q: What’s the start date going to be and is it going to be conditional on repairs being done to the property first?

Length of the Term

Q: How many years is the lease going to be for?

Q: Will the Tenant have rights to renew the term and have security of tenure under the Landlord & Tenant Act 1954?

Ending the Lease early

Q: Will the landlord or Tenant have a right to break the term of the lease early? If so, on what basis and what notice will be needed?

Transferring the Lease

Q: What restrictions are there on transferring the property? Perhaps the new Tenant must have suitable financial accounts and references.

Rent

Q: What is the rent going to be and when does it have to be paid? Will there be VAT?

Rent Deposit

Q: Is a rent deposit required. If so, for how much?

Rent review

Q: Should there be an opportunity to review the rent? If so, when?

Service charges

Q: What share of any services will the Tenant have to pay for?

Use of the Property

Q: What can the property be used for and will there be any restrictions to changing the use?

Repairs

Q: Who is to be responsible for repairs and for what parts of the property?

Changes

Q: Are there to be any restrictions on altering the property?

Insurance

Q: Who will be responsible for insuring the property?

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