Commercial Lease Renewals
– For Tenants
When it comes to renewing the lease on your commercial property, you need a professional and knowledgeable commercial property solicitor to help you get the best possible results. The Landlord and Tenant Act 1954 governs many lease renewals – this can be a complex and confusing act and our job at Burt Brill & Cardens is to put you in a strong position when renewing your commercial lease.
“The whole team have been amazing..kind, courteous , friendly, and extremely professional”
Negotiating new lease terms
If you’ve been a good tenant and are on good terms with your landlord, this is the ideal time to renegotiate your lease terms. There are many options available when renewing a commercial lease. You may consider negotiating a reduction of rent, service charges or even a rent-free period, for example. In addition, a break clause in the new lease can often be negotiated. If you feel you’ve been paying unfairly high rent, you might consider enlisting the help of a professional surveyor to find out the real value of the property, and use that to negotiate a cheaper rent with your landlord. You must however be aware of whether your lease is “inside” or “outside” the Landlord and Tenant Act, as this affects what you can ask for and expect the landlord to agree to.
If you want to continue leasing your commercial property, it’s important to let your landlord know in advance. If your lease is “inside” the Act, you must serve the right statutory notice to protect your rights to renew. We can help advise you how to do this.
Responding to landlord’s notices
When the end of the lease is drawing near, your landlord may serve notice. Whether you are renewing your commercial lease or moving elsewhere, we can help you respond to this. It is crucial to respond within the set time limits so you don’t lose any rights.
Negotiating interim rent
While you’re negotiating the new lease terms with your landlord, we can help advise you about paying interim rent until the new lease has been finalised.
It’s important to find a professional commercial property solicitor that you can trust to help renew your commercial leases and take care of any rent reviews.