A tenancy or lease exists where someone lets premises to another for a term in return for a rent. The term of the letting is usually a number of years.
The expression "business lease" is commonly used to refer to a tenancy of premises used for the purposes of running some kind of business. The premises may be a building, part of a building or even open land, used for example as a temporary car park. The terms "business" as used in this context, does not however include agriculture or farming, where a different set of rules and customs applies.
Aspects of business leases:
- The grant of a new lease
- Guarantors
- Insurance
- Landlord's covenants
- Landlord's continuing liability
- Delapidations
- Service charges
- Licence to assign
- Rent reviews
- Repairing liability
- Right to renew
- Tenant's continuing liability
- Forfeiture
For advice on commercial property issues please contact us.
