This is an area where it is always worth taking knowledgeable legal advice.
Leases for commercial property are often relatively complex and it is important that you fully understand the implications and obligations, in order to avoid costly mistakes.
Drafting a Commercial Property Lease - Key Considerations
Key areas to consider when drafting a commercial lease:
Length of term
We’ll help you establish the approach most suitable for your business and position.
Rent, rent reviews and break clauses
We give professional advice to establish the fair rent for the premises.
Obligation to repair
It is important that the Tenant fully understands the extent of his obligation to repair.
Assignment or sub-letting
When agreeing the terms for a commercial lease, the Landlord and Tenant should consider the arrangements for assignment or sub-letting.
Alterations
Most Landlords will wish to keep total control over the structure of the building and a carefully drafted Lease should reflect this.
Improvements
A Lease should state how a Tenant’s improvements are to be reflected when the rent is reviewed.
The authorised use of the premises
The Landlord should usually ensure that the “User�? provisions in a commercial lease prevent a Tenant from changing its use to one which attracts a lower rental value than the use the Landlord intends.
Formal notices
It is important that the Commercial Landlord or Tenant has a full understanding of the need for and the effect of the formal notices required in connection with commercial leases.
Forfeiture of commercial lease
Where necessary, Brown & Brown Partners LLP will assist with the repossession of a commercial property, including terminating the lease and handing control back to the Landlord.
“The Commercial Property team at Brown & Brown Partners LLP has expertise and experience acting for both landlord and tenants in all aspects of commercial property leases.�?
Fixed Fee Commercial Property Legal Advice for Leases & Lease Renewals
Providing expert advice that’s easy to understand, we are completely open about our fees (which include fixed fees for some of our commercial leasing and lease renewals services) and we always discuss the potential outcomes and full costs with our clients in advance.
Contact Brown & Brown Partners LLP - Lease and Lease Renewals Lawyers Toronto
We are here to help you with all your commercial property and conveyancing needs, and our experienced and professional team will always focus on what you want. To discuss your requirements with the friendly and professional team at Brown & Brown Partners LLP, please do not hesitate to contact us by completing our online enquiry form. We respond to all enquiries the same day they are made, and remain highly proactive until the matter is resolved to our clients’ satisfaction.
