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Commercial Property: Should I Use A Solicitor For A 5 Year Lease?

Commercial Property: Should I Use A Solicitor For A 5 Year Lease?

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Commercial Property: Should I Use A Solicitor For A 5 Year Lease?

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  1. Commercial Property: Should I Use A Solicitor For A 5 Year Lease? Most businesses require locations to operate from. Retail stores, workplaces, workshops, factories, or storage facilities can be included. While some companies own the buildings where they are located, the majority lease their space and pay market rent. A commercial lease, however, entails much more than just paying rent. If you hire us as your commercial lease solicitor, whether you’re a landlord or a tenant, we’ll do everything in our power to get you the best deal at the lowest cost. Commercial leases and agreements frequently include pages of specific clauses that all apply to the Tenant named in the lease, in addition to the rent that is due. A number of onerous obligations, some of which might not be reasonable, can be placed on tenants by the lease, which is frequently biassed in favour of the landlord. Property law, in addition to the Lease itself, has a significant impact on how the Tenant interacts with the property. Therefore, before signing a Lease, Tenants should seek legal counsel in order to fully understand their rights and obligations.

  2. Discovering Problems After Taking The Lease An experienced solicitor will conduct legal investigations into the property, which will reveal a variety of information about it, including whether or not the Landlord actually has the authority to grant the lease. Searches will also show whether the property has any rights that could be harmful to it or that could be advantageous. To find out about things like planning permissions affecting the land, whether the property is connected to mains utilities, and a host of other details, commercial lease solicitors can conduct a variety of inquiries and searches. The Pitfalls Of Trying To Sign A Lease Without Legal Advice It is typical for tenants who are not represented by legal counsel to sign a lease before learning the full scope of their obligations. Without guidance on the repairing obligations, for instance, a tenant may be required to improve the condition of the property from when the lease first began at the tenant’s expense. Tenants must be aware of their rights before signing a lease because the landlord may file expensive dilapidation claims at the end of the lease. 5 Year Leases The lease extension is also taken into consideration. The tenant may be required to leave the property at the end of the lease term and will not have the option to renew it if the lease does not comply with the Landlord and Tenant Act of 1954. A tenant might want the choice to sign a new lease at the end of the term if they are performing expensive fit out work. If so, the tenant will need to think about or negotiate some safeguards against being asked to vacate after the initial five years.

  3. In Manchester, United Solicitors has a group of knowledgeable commercial property solicitor. Call United Solicitors at 0161-225-8181 right away to speak with a representative of our commercial property team. As an alternative, feel free to send an email to the head of our commercial property department, at enquiries@united-solicitors.co.uk

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