Do you have to use a solicitor for a commercial lease?
Commercial leases can be complex with archaic language and terminology, so it is best to seek the advice of a solicitor who specializes in commercial property law to assist with the legal process.
A solicitor will interpret a lease for you, negotiate with the other party on your behalf, and make sure your interests are protected. For example, if a new lease is granted inside the Landlord and Tenant Act 1954, the tenant (or ‘leaseholder’) will be entitled to have their lease renewed automatically once the lease term expires. However, if the tenant signs a lease granted outside the Act, they may have no security of tenure and therefore no right to remain in the business premises when the lease expires.
Whether you are a landlord or a tenant, it is important to understand the consequences of clauses contained in a lease. The regularity of rent reviews, for instance, can have a huge financial impact on a business, as can the obligations of fully repairing the premises and insuring a lease.