Virtually every business involves a lease – either as a landlord renting out an investment property or as a tenant securing premises from which to operate its business.
Landlords need a properly drawn up lease to ensure that their tenant is responsible for all aspects of their occupation of the property – not just payment of rent and outgoings but repairs and compliance with regulations affecting the property. Likewise, tenants need a formal lease to clearly set out what they are responsible for (and what their landlord is responsible for) and to define the basis of their occupation of the property.
Whether it is a small corner shop or a retail unit in a shopping centre, a petrol station or a commercial unit, a pub or a quarry, KBL has vast experience in drafting and negotiating commercial leases. We have helped individuals taking on their first business property through to national brands with a chain of stores nationwide including The Fragrance Shop, Perfume Point and Max Spielmann.
We don’t just deal with the lease but also with any Rent Deposit Deeds, Licences to Change Use and to Alter premises as well as third party Guarantees of leases. We are also here to help you with issues arising during the life of the lease such as variations, alterations, assigning and subletting, rent reviews and disputes as well as lease renewal.
We agree a competitive fixed fee with you at the outset and provide you with a schedule of likely disbursements so there are no nasty surprises. It is important for tenants to know at the outset what (if any) Stamp Duty Land Tax will be payable on their new lease and we can either provide you with a calculation or the Inland Revenue’s SDLT calculator is available at: http://ldccalculator.hmrc.gov.uk/LDC01.aspx
We regularly produce free Factsheets on practical and topical lease issues, please visit our factsheets section for more information on any of the topics below:
The relevance of property searches to a tenant
Changes to the Town and Country Planning Use Classes
Liability for leasehold repairs
Stamp Duty Land Tax
The effect of reforms to the Landlord and Tenant Act 1954
Prescribed Clauses Leases
Document checklist for landlords