Commercial Tenancy Agreements
A Commercial Tenancy Agreement is a contract between a landlord and a tenant which allows for the owner of the property to let out their space for commercial and business use. These properties could include office buildings, industrial spaces, restaurants and retail shops.
A Commercial Tenancy Agreement will set out various terms, rights and responsibilities of both the landlord and the tenant. Unlike residential tenancy agreements, there is usually a special consideration for the type of business that is leasing the property. In addition, it is usual for a landlord to put terms which allow them to increase the rent as the buildings value itself increases.
The Information That Is Typically Covered Includes:
- The type of property being let
- The address of the property and two parties
- The length of the tenancy, including whether it is fixed or can be renewed periodically
- Amount of rent due and when it is to be paid
- What type of business has been permitted to be carried out in the property
- Provisions regarding the security deposit
- Obligations of landlord and tenant
Unfortunately, there is less governmental protection of tenants of commercial property rather than that of residential property. Therefore, a well-written commercial tenancy agreement is vital in protecting the rights of the landlord and the tenant. At Adam Bernard Solicitors, we can aid you in creating a Commercial Tenancy Agreement that ensures both the landlord and the tenant have their rights, requests and obligations outlined.
For private tenancy agreements see: Residential Tenancy Agreements
For contracts for managed services that may be offered to a tenant as part of the tenancy see: Managed Services Agreements
We can also review and advise on agreements you are being asked to sign, renegotiate new terms on existing agreements and contracts or draft entirely new contracts.
To speak to our expert Commercial Tenancy Contract Lawyers contact us on 0207 100 0505