A lease is the grant by the landlord of a right to the exclusive possession of land for a fixed period of time to the tenant in return for the landlord getting rent.
At the start of the transaction both the landlord and the tenant will agree the main terms of the lease, and these are usually set out in the ‘Heads of Terms’. The matters agreed in the ‘Heads of Terms’ will set out the basis of negotiation for both the landlord and tenant’s solicitors.
At Adam Bernard Solicitors, we have years of experience in drafting commercial leases on behalf of the landlord. We can also act for the Tenant who is taking a commercial lease and requires us to negotiate the lease on their behalf so that they can rest assured they are entering into a lease that is going to secure their best interests.
Negotiating amendments to a lease will depend on a variety of factors to name a few:
1. The willingness of the landlord to allow amendments to the lease
2. How quickly both parties want to move to completion, as negotiation usually requires the solicitors to go back and forth on amendments
3. Whether the landlord holds a head lease and is granting a sub-lease or under lease, so the terms of the under lease will be governed by the terms of the head lease
4. Whether the lease being granted is part of a larger portfolio, so all the leases need to be compatible
Whilst negotiating the lease, Adam Bernard Solicitors will endeavour to carry out the due diligence of the commercial premises you will be occupying during the term of the lease. Our solicitors are qualified to investigate the legal title deeds, conduct searches and raise enquiries in relation to the commercial property before you enter a legally binding lease.