When you are taking out a commercial lease, you need to be certain that you are protected if anything goes awry during the lease term. That’s why it is important that you engage the services of a professional legal company such as Saracens Solicitors – an experienced commercial lease solicitor in London.
Being liable for major repairs
During the term of your lease, the building will inevitably be subject to wear and tear. It’s also possible that something might go wrong with the services or structure. It must be clear in the lease who is liable for repairs and restoration. Often there is a split between the landlord and tenant.
For example, the landlord might be responsible for problems with the structure of the building or the outside whereas the tenant is responsible for returning the property in its original condition. The latter might include stripping out any specialist fixtures and fittings that the tenant has installed to use for their business.
Whether you’re the tenant or the landlord, the last thing you want is to be liable for major repairs when you don’t need to be. When we are acting as your commercial lease solicitor in London, we can help you reach an agreement that is fair and watertight.
Various insurances might be discussed within the lease. This is to ensure everything is covered between both parties. The tenant may be required to contribute to the building’s normal insurance costs.
Anything involving a court case
As soon as you go to court, you will incur costs, and there’s no absolute guarantee that you will be able to get them covered by the other side, even if you win the case. It’s always worth weighing up the costs against any potential gain before you start and Saracens Solicitors can help you do this in a realistic fashion when we are acting as your commercial lease solicitor in London.
Where possible, you want to avoid going to court. Good negotiating skills and mediation can help you do this. Our team at Saracens Solicitors are skilled in both of these areas and we look forward to assisting you through any difficult times.