Do I Need Legal Advice When Taking On A Commercial Lease?

You do not need legal advice when taking on a commercial lease. However, it is highly recommended. The average commercial lease will be around 25 to 50 pages. Within this lease there will be a number of clauses. This will have been prepared by the solicitor of the landlord. This means that it will be favourable to the landlord, and not you as the tenant. Not only is the commercial lease lengthy, but it is also onerous and can be complicated to understand. Commercial leases are governed by contract law. This often means that there is limited statutory protection for you, the tenant.

Here at Burgh Thorpe Solicitors, we have a team of commercial property lawyers in Peterborough that can give you the essential legal advice you need when taking on a commercial lease for your business. Our commercial solicitors are experienced in helping tenants just like you.

As your commercial property solicitors, we can identify the risky clauses within your commercial lease and offer legal advice to make them more favourable terms. We can explain the repairing, insuring and dilapidation obligations. This means that you know what to expect and there will be no nasty and costly surprises in the future. Our solicitors will ensure that the break clauses within the commercial lease are legally effective. We will help to protect your business from costly property disputes in the future. Our commercial lease legal experts can offer advice to help plan for the future growth of your business.

There are a lot of common pitfalls to look out for in commercial leases. These are all things our commercial lease solicitors in Peterborough can offer you legal advice to avoid. For example, there are the full repairing and insuring obligations. These are also known as the FRI obligations and can lead to substantial and unexpected costs for the tenants.

The dilapidations liability can result in expensive claims from the landlord if the right legal protection is not in place for the tenant. There are also the rent reviews to consider too. If these are not clearly defined, tenants can find themselves paying a lot more rent than expected. The break clauses and termination right need to be properly negotiated too.

If you are looking to take on a commercial lease for your business, we highly recommend that you speak to our experienced commercial property solicitors in Peterborough for legal advice. We can help you save thousands of pounds with a well-negotiated lease. One mistake in a commercial leased can have some serious financial consequences. Let our solicitors help you ensure you’re protected.