Heads of Terms in Commercial Property Transactions
Heads of terms are used in commercial property transactions to set out the key terms expected to form part of the deal. Heads of terms help identify any issues which could prevent the success of the transaction as well as providing a guide for the lawyers when the formal, legally binding documents are prepared. While […]
Security of Tenure for Business Leases
When securing new premises, the future preservation and success of your business may hinge upon your security of tenure. Legal advice should always be sought prior to entering into a new business lease, as well as in relation to any security of tenure issues that may arise during the course, or upon expiry, of an […]
Taking on a Commercial Lease
If you are a tenant looking to lease new business premises there are numerous issues to consider, not least your legal rights and responsibilities. Some of the most frequently asked questions relating to commercial leases are set out below. What is a commercial lease? A commercial lease is a legally binding document setting […]
Breach of a Commercial Lease (What to Do!)
Both Landlords and tenants can be found in breach of a commercial lease under either the Law of Property Act 1925 or Landlord and Tenant Act 1954 if they fail to meet one of more of the lease covenants. When a tenant has breached the terms of their commercial lease, landlords can respond through serving […]
Commercial Lease Notice to Vacate
When a commercial lease is in place the tenant normally holds the right to remain in occupation until the lease expires. However, as a landlord there are some circumstances where you can take back the premises during the term by issuing a commercial lease notice to vacate. Tenants will often challenge a notice to vacate […]
What is a Commercial Lease Insurance Clause?
It is in the interests of the landlord and the tenant that a commercial lease sets out details of the insurance terms in full. If there is no commercial lease insurance clause there is no obligation to insure the property, resulting in problems for both parties. Who is responsible for insuring a commercial property? […]