As a landlord living in London, you’ll be wishing for the best possible tenant. One who pays their rent on time, fully adheres to the clauses within the lease and when end of tenancy comes, will vacate leaving the property in good condition. However, due to failing businesses or lack of care, tenants can be in breach of lease, by acting swiftly you can prevent serious financial loss. Consulting an experienced commercial lease solicitor in London therefore makes good business sense when tenants break agreements.
Making arrears arrangements
If a tenant starts to slip into arrears, often the first cause of action is to agree terms of repayment. Keeping good relationships and lines of communication open is the best policy. However, if these start to break down, it is probably a good idea to visit the tenant and look over your property. Since your tenant may be reluctant to allow entry this, as your commercial lease solicitor in London, Saracens Solicitors can procure means to enter your property peacefully without the need of a court order. You can then inspect your property, ensuring your tenants are still maintaining the premises.
Breaking their lease
Most commercial leases are fully repairing and insuring tenancies (FRI leases). This means your tenants must maintain the property and fully repair any damage incurred during the course of the business they are running. If a tenant has started to break the lease and you discover damage to the property, we can then advise you on how to proceed. It’s often advisable to remind the tenant in writing that they must put the building in order and repay any outstanding arrears. Should the tenancy continue to break down further and it’s time to seek eviction, we can further advise you on how to take this forward successfully.
How informed choices make sound business sense
As a business owner, you will know that making informed choices saves money and creates success. As your commercial lease solicitor in London, we can advise and support you to make sound legal choices that make business sense. By engaging Saracens Solicitors, should your tenants breach your lease clauses, we can provide the best possible outcome for you and your business.