Commercial Property - tips for beginners - English Law
When we talk about commercial property, we're usually talking a commercial lease. So either its creation or its transfer from one party to another party. The creation of a new lease is called a grant of lease and a transfer of lease is usually called a transfer or assignment of lease.
So, what is a lease? In essence, a lease is just a contract although it's a special contract because it will, in most cases, give the tenant (which is the occupier) the right to possession of the property. The aim of most commercial leases is to put most of the obligations onto the tenant and the landlord is in most cases just interested in getting the rent. So on that basis, once your mind has been set in that particular way, he'll become very clear that if you're not taking legal advice when you are taking on a commercial lease, you could in fact be entering into a very bad bargain.
So, I'm usually asked by many small to medium businesses and particularly new business – they ask "Why do I need you? I can read the lease and I can read all the title documents and everything else. I can understand it. Surely it's common sense, is it not?" I could not possibly comment on the matter of common sense because obviously most of us know that common sense is not that common.
Commercial Property - tips for beginners
When we talk about commercial property, we're usually talking a commercial lease. So either its creation or its transfer from one party to another party. The creation of a new lease is called a grant of lease and a transfer of lease is usually called a transfer or assignment of lease.
So, what is a lease? In essence, a lease is just a contract although it's a special contract because it will, in most cases, give the tenant (which is the occupier) the right to possession of the property. The aim of most commercial leases is to put most of the obligations onto the tenant and the landlord is in most cases just interested in getting the rent. So on that basis, once your mind has been set in that particular way, he'll become very clear that if you're not taking legal advice when you are taking on a commercial lease, you could in fact be entering into a very bad bargain.
So, I'm usually asked by many small to medium businesses and particularly new business – they ask "Why do I need you? I can read the lease and I can read all the title documents and everything else. I can understand it. Surely it's common sense, is it not?" I could not possibly comment on the matter of common sense because obviously most of us know that common sense is not that common.
Commercial Property - tips for beginners
