COMMERCIAL LEASING

A commercial lease is a major long-term business contract between landlord and tenant.

There is no such thing as a "standard lease" so every landlord and tenant should ensure that their lease meets their particular requirements.

An unsuitable lease can leave a tenant in financial peril or a landlord with an unsaleable property. On the other hand a good lease can add value to your business or your land.

Landlords need to ensure that their lease contains the right clauses to protect their interests and give practical solutions in the event of tenant default or unusual events.

If the premises are defined to be "retail" there are important disclosure, timing and other obligations with which you must comply. Parliament has imposed significant consequences for failure.

Tenants are often presented with the landlord's draft lease "for signing" with many pages of complex clauses. Some of these clauses could seriously affect business health and personal finances!

We recommend that tenants get professional advice on the usual and not-so-usual features of the draft lease. Tenants should then engage a leasing lawyer to negotiate the changes to get the best possible lease for you.

Don't sign a lease or an "Agreement to Lease" before you get professional advice!

Business buyers & sellers are often involved with the assignment (transfer) of an existing lease with long-term implications for both parties.

People having trouble with an existing lease need professional advice as soon as possible as there are often important legal deadlines and other important matters which may not actually appear in your lease, the Notice you have just been served or your other paperwork.