Returning A Property at The End of A Commercial Lease

leasing agreement documentIt’s important for tenants to tie up loose ends at the end of a tenancy. When it comes to business premises, this is often achieved with the help of a commercial lease solicitor in London.

There are various obligations that need to be met and some will relate to the physical state of the property. There may be room for flexibility within the original terms of the lease. In order for a tenant to take advantage of this, they can take the advice of a commercial lease solicitor in London, like Saracens Solicitors.

What does the lease say?

The required standards for returning a commercial property are usually laid out in the lease or any addendums that have been made since the tenancy started. If someone is unsure of their obligations, they may need to consult a commercial lease solicitor in London.

A tenant may need to return the property in its original state. This might mean removing any fixtures and fittings they have added or undoing renovations, unless they have agreed differently with the landlord.

What is a Schedule of Dilapidations?

If, at any time, a property is found to be in a state of disrepair, the landlord can submit a document to the tenant detailing the issues that need addressing. This is known as a Schedule of Dilapidations and it is normally accompanied by details of when repairs need to be carried out by and what happens if they are not. The landlord can submit a document of this type during the tenancy if they have inspected the property and found that repairs need to be made. If they are submitting it after the end of a lease, they usually have a certain amount of time within which they need to compile and deliver the Schedule of Dilapidations.

If the tenant is unable to dispute the contents of the Schedule of Dilapidations then they need to meet the deadline to avoid further action. They may be able to extend the terms under certain circumstances.

If they wish to dispute the contents of the Schedule of Dilapidations or the terms of their lease, they need to take the advice of a legal professional like a commercial lease solicitor in London.