Most people could be forgiven for looking at only a few clauses when provided with a draft lease from the perspective Landlord; the rent and the term. Nothing else matters? That is, of course, until the Lease term expires or there is a disagreement with the Landlord. A good Lawyer will quickly be able to identify potentially dangerous clauses in a commercial lease document. Amendments can then be negotiated and agreed upon with the Landlord’s Solicitor. This could save you or your business thousands of pounds in the long run.
If the Lease contains an onerous repair covenant, the Tenant may find themselves on the receiving end of a dilapidation claim when they serve notice to vacate. Suppose the tenant fails to consider the implications of the Landlord and Tenant Act 1954 and the protection afforded by the security of tenure provisions. In that case, they may find themselves having to vacate the premises at the end of the term after having built a reputation and goodwill in those premises and in that area.
The ramifications of an onerous, poorly drafted or one-sided Lease are far-reaching and potentially financially onerous.
O’Donnell Solicitors can advise you or your Company if you consider entering into a Lease of premises. We can carefully consider the clauses and implications of key terms and offer you the best possible protection. With over ten years of experience and having handled thousands of commercial property transactions, our Commercial Property team, headed by James O’Donnell, is best placed to assist you in this process.
We also act for Landlords, portfolio Landlords, and both Landlord and Tenant in disputes arising from a tenancy.
To see how we can help you don’t hesitate to get in touch with James O’Donnell in our Commercial and Property Department at 0161 641 4555 or by e-mail at firstname.lastname@example.org