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Are you renewing or negotiating a new lease? If so, this tip is worth a read!

There is no such thing as a "Standard Lease"

A lease does not have to be non renewable.
You do not have to put a property into good repair.
You can negotiate a rent free period and you can get out of your lease. This can be done using clever drafting and negotiating with your landlord.

Is your lease terminated or about to be renewed?

If your business lease is coming to an end it does not have to be the same as the one you have. Most landlords do not want the costs involved in finding a new tenant and losing rent whilst they do so. Do not therefore be afraid to consider a lease better suited to your needs.

Your have invested in your address

When you start trading from an address, your customers/clients associate your premises with you. You often invest time, money and effort on this address, fitting it out for the purposes of your business. So if you have a break clause can the landlord break the lease as well as you, and are you are in breach?

In either case you could be out of your premises with nowhere to go, losing a rental deposit your clients and your investment in refurbishments at the same time. Alternatively you may not be able to break your lease when you thought you could, and find that you are stuck with it and have to continue paying rent etc

It is vital therefore that you have a Break Clause without traps and which works for you; that the lease is renewable if you want, particularly if it is for a short term and, finally, that you understand the consequences of breach of covenant and the remedies, be secure and take control.

Take protective action

If you have a break clause check your lease now so you do not lose out. If you are renegotiating or entering into a new lease, do not take it or leave it and take advice, because there are other areas which can be negotiated for your benefit.

To discuss your lease please contact our Commercial Lawyer, Chris Boakes on 08458 678 978 or email chris.boakes@acumenbusinesslaw.co.uk

What our clients say

Are you renewing or negotiating a new lease? If so, this tip is worth a read!

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