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Commercial Leases

Leasing a Commercial Property - Tenant

If you plan to lease a shop or an office or some other commercial property you will have to provide the landlord with evidence that you will be able to pay the rent in the future. This may involve letting the landlord see a set of your accounts.

It may be advisable to have a survey of the property carried out to confirm that the rent that the landlord is asking is reasonable. Your solicitor will be able to organise this for you and to negotiate a rent with the landlord, if this is necessary.

In addition to you paying rent, you will be bound to pay rates to the Local Authority and probably the cost of insuring the property and keeping the property in good order. A Commercial Lease can be an extremely lengthy document and it is essential that you are aware of all the terms and conditions contained in it. Your solicitor will help you negotiate the terms of the lease.

Once you have entered into a lease of a commercial property then, if you wish to vacate the property before the end of the lease, you will have to find another tenant who is acceptable to the landlord. Until the landlord agrees to accept that tenant you will have to continue to pay rent, rates and all the other costs of the lease.

Paris Steele W.S. have many years of experience in dealing with the leasing of commercial property and would be glad to advise and assist you in that connection.

Leasing a Commercial Property - Landlord

If you own a shop or office or some other commercial property and wish to let it out it is advisable from an early stage to have your solicitor involved. You will want to ensure that the prospective tenant pays the rent and your solicitor will negotiate the rental and terms of the lease with the tenant and/or the tenant's solicitor.

A tenant will be expected to pay the rent, rates and often the cost of insuring the property.

A commercial lease is much like a business agreement in that it sets out the parameters of a business relationship. Therefore it is important that a landlord understands the terms and conditions that the agreement will impose on him or her rather than only the obligations of the tenant. If the lease has not been carefully drafted a small problem can become a major problem in the future.

Paris Steele W.S. has many years of experience in commercial leasing and can advise and assist you in that connection.