Letting out commercial property?
Need advice on your rights and responsibilities?
Renting out commercial property is subject to many rules and regulations and a commercial tenancy agreement is required. A well-drafted tenancy agreement will form the basis for a good contractual relationship between landlord and tenant. It should cover your payment terms, penalties for late payment including punitive interest, renewal options repair obligations and escape clauses.
Without a tight agreement, the terms of the tenancy may be unclear and the risk of a tenancy dispute is high. Landlords could find themselves unable to increase rent or ask their tenants to move on when necessary.
Landlords of commercial properties also have a wide range of statutory duties to comply with. These include maintaining the structure of the building to a reasonable standard, keeping it insured, having the property inspected by an energy assessor and providing gas safety compliance certificates.
When drafting a commercial tenancy agreement, the Myers & Co commercial property solicitors will make sure that you fully understand your rights and obligations whilst protecting your interest in your rented property at all times.
Tenants should always take advice before signing any agreement to check that its terms are fair and legal. During the course of your tenancy you may need to alter the terms of your agreement by exercising a break right or assigning or subletting your lease. We can help you determine your options by examining your commercial lease in detail and liaising with your landlord to negotiate on your behalf to make sure the correct notices are served.
Should a tenancy dispute arise, our dispute resolution team will work with you to find a cost-efficient solution to resolve your dispute, often providing an alternative to expensive court proceedings.
For further advice on commercial tenancy agreements or any other landlord and tenant problems, contact Richard Morgan in our commercial property department on 01782 525027 or email him at firstname.lastname@example.org.
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