Do I Need A Commercial Lease Solicitor

1. Do I Need A Commercial Lease Solicitor? When entering a commercial lease, it is advisable to secure the services of a solicitor. Having a solicitor review the lease ensures you are protected. Without a solicitor, you could find yourself with a problematic lease or a landlord that has supplied a lease which is unfair and could impact your business in the long run. When you do not hire the services of a commercial lease solicitor, you could find it difficult to identify the property granted under the lease. The correct property must be leased. You need to be able to identify common areas within the building, including stairways and corridors if the property is within a larger building. Confusion regarding boundaries and common areas can cause serious problems if you don't deal with them correctly, which could cost you a lot of money to rectify. The length of the lease will determine if there is a rent review after a set period. You must know exactly when to expect the rent review. The rent review provisions must be carefully drafted and prepared by an experienced solicitor. Landlords are going to focus on ensuring there is an upward rent review clause in the lease, whereas a tenant, would prefer the clause to include an upwards and downward rental review. A solicitor will be able to ensure that the agreement is accurately reflected. One of the biggest problems with commercial leases is identifying repairs and who is responsible. Commercial leases are standard for the tenant to keep the premises in good condition, which can be problematic if the property is already in disrepair before signing. When you instruct a solicitor, it will allow you to negotiate on this obligation, ensuring that as a tenant, you do not need to improve the property but rather keep it in the same condition as you received it. Landlords want to protect themselves, so it's understandable to want the lease to see the tenant is obligated to bear all the costs relating to the repair of the property, no matter who carries out the repairs. Not having this could result in the rental income being an outgoing cost. Solicitors can draft the commercial lease to protect the landlord in this regard. A solicitor can assist both landlords and tenants when it comes to a break clause. Tenants will want the break clause so they have flexibility in ending the lease, while landlords want the tenant to comply with the lease obligations. Solicitors can assist in the conditions tying tenants into the lease for the full duration as signed. The solicitor can ensure that any break conditions are reasonable to both parties. Tenants who let business premises have the right to renew the lease at the end of the signed term, but there are times when this doesn't apply. As a tenant, if you agree to sign a lease that excludes the security of tenure, you have no right to remain in the property when the lease ends. It is imperative as a business owner to ensure that your solicitors advise you on the implications surrounding this. For landlords, using a solicitor can assist you if you want to exclude this clause, ensuring the correct notices are served based on the current law.

2. About Us: Grant Saw Solicitors LLP is a London-based legal practice that caters to private and business clients. The firm has been operating since 1851 offering legal excellence and a modern and friendly approach. They are recognised for their excellence with numerous accreditations. Being members of LawNet, they share ideas and resources. Grant Saw Solicitors LLP are based in Blackheath and Greenwich, both offering disabled access. Their extensive range of legal services ranges from tenant and landlord disputes to residential property transfer, commercial property, insolvency, employment, and dispute resolution. Full details can be found at https://grantsaw.com.