One of the first misconceptions that people have regarding commercial lease law is that there is a "standard lease". Whilst it is true in commercial lease law that a number of leases may contain certain standard clauses which are applicable in most cases, the lease is in effect a document that sets out the rights and obligations of two or more parties to a particular property.Specific Requirements in Commercial Lease Law
This relationship is extremely specific and is based upon the exact needs and requirements of the parties entering into the lease and the property that the lease will relate to.
For example a Tenant of a shop may have a specific requirement that he needs to be allowed to have the shop open between certain hours and at weekends whereas a Tenant occupying an Office Suite may not need such a requirement.
Fixed Terms in Commercial Lease Law
It is therefore extremely important at the outset that the terms upon which the commercial lease is to be granted and the needs of both parties are agreed prior to a draft lease being produced.
Once a lease has been signed the relationship is then generally fixed to the terms contained within the lease. In commercial lease law there is little protection for parties in the event that they may have entered into a bad bargain. Specialised legal knowledge regarding commercial lease law should therefore be sought as early as possible in an attempt to minimise the risks.
Written by Matthew Smith- Property Solicitor
If you would like advice from one of our commercial lease law solicitors or more information about a commercial lease law issue please ring 08000 111 303 or visit www.hattonslaw.com