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Thirteen Tenant’s Considerations for Commercial Lease in England and Wales:

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Ignore these and it could be your unlucky day! If you are entering into a commercial lease you need to consider every angle of the agreement and think about the outcomes if something goes wrong. These 13 considerations from our head of Corporate Law, Alex Atkins will help guide you through. Have a read or watch the video and if anything rings alarm bells, then call us and we can help guide you. 

  1. Permitted Use: Ensure the lease allows for the specific business activities you intend to conduct on the premises.
  2. Rent and Costs: Clarify the total rent amount, payment schedule, and any additional costs or service charges associated with the lease.
  3. Condition of the Property: Assess the current condition and any potential financial liabilities for necessary repairs of the property, clarify your and the landlord’s responsibility for repairs and maintenance.
  4. Break Clauses: Check for the inclusion of break clauses, which allow for early termination of the lease under certain conditions.
  5. Security of Tenure: Understand the security of tenure provisions, including renewal rights and potential termination by the landlord.
  6. Assignments and Subletting: Evaluate the ability to assign or sublet the premises, providing flexibility for future business changes.
  7. Alterations and Improvements: Determine if you have the right to make alterations or improvements to the property and who is responsible for associated costs.
  8. Insurance and Liability: Clarify the insurance obligations for the property, including liability insurance and who is responsible for maintaining coverage.
  9. Future Growth: Evaluate whether the premises can accommodate potential business expansion and discuss options such as lease assignment or surrender clauses.
  10. Exit Strategy: Plan an exit strategy to facilitate a smooth transition at the end of the lease term, including obligations for reinstating the property.
  11. Compliance with Regulations: Ensure the lease complies with relevant laws and regulations, such as planning permissions and health and safety requirements.
  12. Rent Review Mechanism: Understand the rent review process, including the frequency and basis for rent adjustments, to ensure fairness.
  13. Tenant Responsibilities: Clarify your responsibilities as a tenant, such as maintaining the property, complying with regulations, and handling repairs within your control.

If you would like some help with your Commercial Lease, then why not talk to one of the team at Marlborough law? You could also watch a few of our videos to get tips from Alex.

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