Common Misconceptions of Commercial Lease Law

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.

Click here to visit Hattons main Business Property website section

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

Categories: Business Property

Comments

Posted by solicitor Dublin services on
Hello Matthew Smith, Actually i am more familiar with the Common Misconceptions of Commercial Lease Law but i am having good knowledge of most common misconceptions regarding commercial liability insurance.

Below is a list of 10 of the most common misconceptions regarding commercial liability insurance. In the coming days, I will examine each of these misconceptions individually, and explain why each should be considered busted.

1.Your Business Is “Fully Covered”.

2.Policy Forms Are “Standard” And Cannot Be Negotiated.

3.Fraud Claims Are Not Covered.

4.Deductibles And Self-Insured Retentions (“SIRs”) Are The Same Thing.

5.Certificates Of Insurance Add Additional Insureds.

6.Your Insurance Company Selects Your Defense Counsel.

7.You Need Only Tell Your Insurer About Lawsuits.

8.Punitive Damages Are Not Covered.

9.Excess Insurance And Umbrella Insurance Are The Same Thing.

10.Insurance Policies “Expire”.
Add your comments



(Your email will not be publicly displayed.)