Giving a Lease
This article was written by Sam Hawking & Co
UK residential & commercial property services from Sam Hawking & Co
So, you’re leasing a property. Why pay for commercial property services when you’ve done it all before? After all, a lease is a lease is a lease – isn’t it?
Well, sadly not. No two leases are the same, so you must protect your commercial interests and nail down the rights and responsibilities for both parties.
The landlord’s responsibilities are likely to include:
Maintenance and repairs of the building
Management of common areas such as grounds, staircases and hallways
Insurance of the building
While the leaseholder’s obligations may include:
Keeping the inside of the property in good order
Behaving in a ‘neighbourly’ manner
Payment for services, eg maintenance and repairs, building insurance etc
Payment of ground rent
Payments into a reserve fund for any scheduled major works, eg external decoration
Restrictions on certain activities without the landlord’s consent
As a guiding principle, the landlord is not obliged to provide any service that is not specified in the lease, and the leaseholder is not obliged to pay for anything that is not specified in the lease.
How confident are you that your property lease really covers all these angles? If you leave room for doubt, you may well regret it further down the line.
With an important commercial agreement, you can’t afford to take chances. So call us on 01639 884884 and ask about our UK commercial property services.