There is as much variety in commercial leasing as there are types of building, tenant, and landlord. Some commercial leases can contain unusual clauses and unique provisions but this is relatively rare. When Saracens Solicitors is acting as your commercial lease solicitor in London, we can guide you on what is normal and what might be more uncommon or restrictive.
There are some common standards and these are usually elucidated in some detail within the terms of your lease.
These might include but are not limited to:
- Biographical and/or company details for the leaseholder and landlord. If a company is being named as the leaseholder, it must be clear who, within the company, is actually responsible for the lease;
- Important dates relating to the lease such as start date, duration, when the rent is due, and the termination date;
- Details regarding the deposit amount and terms of refund, if applicable;
- Reference to the condition of the property and the expected state of return;
- Any fees that are payable on a regular basis on top of the rent;
- Terms of access to the property during the lease term;
- Details of any common areas and responsibilities relating to the upkeep and costs of such spaces;
- Unless your lease specifically states that you can sublease or share the space with another business you cannot. If you need to sublease it must be stated in your lease that you have this right;
- Any agreements that have been entered into verbally regarding the property. When we are acting as your commercial lease solicitor in London, we can help you word any casual agreements in a way that means they are more likely to be enforceable.
It is important that you read your lease thoroughly. When Saracens Solicitors act as your commercial lease solicitor in London, we ensure that your lease conforms to the letter of the law and lays out anything we have discussed. However, only you know all of your personal and professional circumstances and you may find details within the lease that have not come up during our conversations. Know what you are agreeing to and give yourself the chance to change anything you need to. There is often room for negotiation.