Recovering loss of bargain damages following termination of a lease Most commercial leases contain clauses outlining the circumstances in which: the tenant will be in breach; and the landlord will be entitled to terminate the lease and recover any resulting loss or damage. Subject to certain restrictions and notice requirements1, termination in reliance on an continue reading
An easily overlooked element of a commercial business sale is that of assigning the existing lease, which is key in enabling the buyer to continue operating the business in the same premises where the seller currently resides. While the steps involved, in assigning the existing lease, may be relatively straightforward the time and effort in continue reading
It is becoming more prevalent, in connection with commercial/retail shop leases, for financiers of both Landlords and Tenants to seek the other party to enter into a direct “side deed”. For example, the Tenant’s financier will (in addition to taking a mortgage over the Lease), seek direct contractual relations with the Landlord in order to continue reading
The ‘make good’ clause can fast become a contentious area of any commercial lease agreement. For tenants, it’s easy to see it as a cash grab by landlords. A last-ditch effort to make the most of an exiting tenant. For landlords, it’s an utterly necessary clause that will ensure the tenant has a legal obligation continue reading
Businesses can be unpredictable. If you’ve secured a Commercial Lease and then for whatever reason have to walk away from it, it’s vital to know what your options are. 1. Rent Holiday or temporary reduction of rent If you need to exit your lease due to financial hardship, then you may wish to first consider continue reading
Last month we touched on 5 great tips to help you secure a better lease agreement for your commercial lease. If you’re feeling confident you can go straight to the negotiation table and make a go of it… unfortunately, you might find that your landlord has the upper hand. As is often the case, the continue reading
So, you’re setting up shop somewhere else — literally. Well done you! We have no doubt that you’ve shortlisted a few prime spots on realcommercial.com and already started imagining your business filling the space perfectly. But, before you get too far ahead of yourself we need to ask: how is your grip on lease negotiation? continue reading
When renting a business related property it is important for both Landlords and Tenants to understand the relationship they are entering into and the rights and obligations that they each have, the document that governs this relationship is usually a Commercial Lease. So what is a Commercial Lease? A lease is a legally binding contract continue reading
Landlords, tenants and managing agents should be aware of new provisions under the revised Retail Shop Leases Act 1994 (the ‘Act’). The Retail Shop Leases Amendment Bill 2015, staged to commence in November 2016, triggers new considerations when entering into a lease. The changes are intended to uphold present consumer protective provisions, whilst clarifying some continue reading
