Making A Commercial Property Fit For Work Will Likely Require Alterations To The Property – Know Where You Stand.
When taking a lease, new or existing, there will likely be some alterations to make to the property to ensure it meets the needs of your business. This is ever more likely with new builds where commercial properties are deliberately left in an unfinished state so they can be fitted to suit the first tenant’s requirements.
Before you bring in the architects and start remodelling the premises, there are legal hurdles which must be overcome to avoid any liability falling on you in the future.
What Are My Responsibilities?
The main thing most landlords and tenants really want to know is what their responsibilities are when it comes to the work, maintenance and any repairs. The scope of your liability will likely vary from licence to licence and, depending on the terms of the lease, there may or may not be a reinstatement clause.
We work with you to ensure that firstly you’re aware of what is required and expected of you from a legal standpoint, and also so there are no nasty surprises at the end of tenancy.
Assignment of Leases
When it comes to assigning leases we understand that it is important that you have this set up right, from the beginning. We will support you with:
- assisting landlord and tenant in providing correct documentation
- obtaining landlord’s consent
- advising on lease conditions for assignment.