In our previous article, “a guide to leasing property for small & medium businesses”, we discussed the process and benefits of renting commercial property as well as what you need to look out for. If you plan on leasing a commercial building you need to fully understand that a legally binding agreement has to be made between the tenant and the landlord. This article will feature some tips regarding your rights and obligations that should help you maintain a healthy relationship between you and the property owner.
When leasing a commercial property, both parties (tenant and landlord) will sign an agreement which governs the tenant’s occupation of the property. It is important that this agreement is fair on both parties and it should provide enough flexibility to allow you, the tenant, to address any issues or breaches of the contract before any legal action is taken by the landlord.
Should you forget to complete any aspect of the lease agreement you will be in breach of contract and unless the agreement states otherwise, the landlord may decide to take immediate legal action. However, a healthier solution to this scenario would be to agree within the contract that the landlord must inform you of any breaches of contract and give you an appropriate time frame to address the issue before legal action is taken.
Additionally, you should try to keep up to date with any new building regulations which could affect the property. Some of the existing legislation includes the Disability Discrimination Acts, Town and Country Planning Acts, Health & Safety Acts and Environmental Acts. If new legislation is introduced the tenant may be required to cover the costs of meeting that legislation. However, if you are moving into new premises you should ask your landlord to confirm in writing that the property meets the current regulations prior to agreeing to lease the property.
There are numerous complex laws surrounding the relationship between the tenant and landlord; therefore it is advisable that you seek legal advice from an experienced commercial property solicitor. Rollingsons acts for companies, businesses and individuals, and adopts a commercial and practical approach that covers all aspects of the commercial property leasing process. For more information or to arrange an initial consultation, please contact us on 0207 7611 4848.