Understanding Your Commercial Tenancy Agreement

Businesses of all shapes, sizes and industries often require commercial premises for the business to run, grow and develop. While some businesses have opted for a hybrid approach, others still need a business base. This could be for staff working, storage of products, a location for meeting or a retail outlet. But if your business needs a commercial property as a base, do you understand your commercial tenancy agreement?

If you are looking to expand, downsize, grow or move your business then you may be looking at a new commercial property. In this case, you will need to ensure you understand your commercial tenancy agreement. Business owners often look for flexibility and cost management in their new business premises. This is why you need to ensure your commercial tenancy agreement offers this for you and your business. Our commercial tenancy law experts can review and negotiate your lease on your behalf to ensure you and your business are protected.

There are lots of parts of your commercial tenancy agreement that you need to ensure you fully understand. This is something our commercial property lease experts can help you with. For example, they will review the lease duration within your agreement to ensure the start and end dates of the contract. This part of the lease will also detail whether the contract can be renewed or extended and how this can be done.

It’s important that you understand the Use of Premises part of the tenancy agreement too. This will clearly state what the site can and can’t be used for. You need to review this and think about what you want from your business premises in the future. If you were to set up a prohibited commercial activity in the premises, you could be in breach of your contract.

You will need to carefully review the maintenance and repairs part of your commercial tenancy agreement too. This will inform you of the responsibilities you need to complete on your property. It will also show what works you can expect the landlord or commercial property manager to take care of.

Take the time to review the early termination within the commercial property tenancy agreement. The last thing you want to do is lose your business premises unexpectedly. Look at the conditions listed within the lease to see the reasons your contract could be terminated early. Also check that you can request an early termination and the requirements around this.

If you need a commercial property lawyer to review your commercial tenancy agreement and ensure you fully understand it, call our commercial property law experts in Peterborough. We are here to help protect you and your business.