A commercial lease is a contract between the tenant and the landlord. It sets out the tenants’ rights to occupy the premises and their obligations to pay rent and abide by the rules set by the landlord. These rules can be complex and vary from lease to lease. They depend on the type of business you run, the premises you’re renting and your bargaining power. Finding the right commercial lease solicitors to help you understand and negotiate these rules is vital to ensure you get a fair bargain.
A sublease is a legally binding contract made between a tenant and a new tenant. The sublease gives the subtenant the right to share or to take over the rented premises from the first tenant. The subtenant pays rent directly to the first tenant while the first tenant pays rent directly to the landlord. The landlord still holds the first tenant directly responsible for the rent and for any damage, including any caused by the subtenant. Usually, the first tenant must get consent from the landlord before he/she is allowed to sublease the premises.
Surrendering a Lease
It’s increasingly difficult for occupiers to negotiate a lease surrender with a landlord. With high vacancy rates and low demand, landlords will often be reluctant to entertain a tenant surrendering the lease unless they pay a substantial premium. However, with the right early advice from a Commercial Conveyancing Solicitor, it is possible. The key to negotiating a lease surrender is to be properly informed. When negotiating a lease surrender, Avery Walters Leeds Commercial Lease Solicitors team will calculate the net present value of all the liabilities of the lease for you, including:
It’s only when you have the full facts that you can make a decision on lease surrender terms.
If you are the landlord and one of your tenants is asking for a lease surrender you need to be aware of the risks in order to make an informed decision.
Our team of Leeds Commercial Lease lawyers have extensive experience in dealing with leases, subleases and surrenders. Our team of commercial lawyers are trained to help you with issues surrounding commercial property leases, surrenders and subleases.
Whether you are the landlord for a Commerical Property or Subletting, the team here at Avery Walters Commercial Conveyancing Solicitors are here to help. With our team of expert commercial conveyancing lawyers we provide the best legal advice Leeds and Harrogate have to offer.
Leases, Surrenders and Subleases made simple.
At Avery Walters our team of specialist commercial lease solicitors can provide advice about Commercial Property Law.
Contact us on 0113 2007480 or email us on firstname.lastname@example.org to arrange your free initial, no obligation consultation with a Leeds commercial leasing specialist.