Allow A Solicitor To Draw Up Your Important Leases Agreements

By Author: Rainer Hughes
Total Articles: 27
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Everyone that rents property from another person understands that agreements have to be entered into and contracts signed, even though oral agreements between parties are often valid. The only problem is to prove the terms you agreed upon when the agreement was accepted if such an agreement was never reduced to writing.

Also, it is often a good idea to get your solicitor involved, regardless of whether you are the landlord or the tenant. These agreements are referred to as ‘lease agreements’. One person, i.e. the landlord, leases/rents out their property to another, i.e. the tenant, under certain conditions and stipulations. There are various types of lease agreements, one of which is the commercial lease agreement, just as you get a lease agreement that refers to residential property.

It may be true that generally speaking, the residential lease agreement is less complicated and the commercial lease more so. Therefore it remains a great idea to approach a solicitor or firm of lawyers and solicitors to assist you, whether you are the landlord or the tenant. These professionals work with these issues every ...
... day and understand every detail that applies, and they make sure that every party to the lease agreement understands their rights, as well as their responsibilities, as they apply to the terms and conditions of such lease.

This approach ensures that all parties perform as per the agreement they sign and that they understand that non-performance opens them up to fines and other forms of sanction. Since property law can be quite complex, it is best to rely on the support and advice of a property legal expert to settle any disputes that could arise in the future. It starts with finding a good, experienced property solicitor that will offer advice and make sure his/her client’s interests are protected under whatever stipulations apply under the agreement.

In essence, a commercial lease is an agreement between landlord and tenant that allows the latter to use the landlord’s property for business or commercial reasons. The landlord is paid a specific amount of money, normally monthly, or as per any other agreement that suits both parties, for the use of their property. In the lease contract, the responsibilities of both parties are stipulated and have to be accepted by both.

In most cases, the commercial lease is entered into for a longer period than would be the case with residential property, which is signed, typically for one year with an option to renew. The commercial lease is normally signed for a longer period, say five years, as a tenant needs a longer time to get settled and have their business running properly. For the landlord, it is, mostly, a good arrangement as well, as it means he/she is assured of a fixed income over a fairly long period. Of course, this arrangement may be for either longer or shorter than the suggested five years too.

Often a guarantor is required so that the landlord suffers no loss should the tenant not be able to meet their requirements about payment and other responsibilities. Even though it is not a law to seek the advice or assistance of a property solicitor to oversee the signing of these leases, it is always highly recommended, so that both parties understand right from the beginning what their responsibilities are. Also, your solicitor is knowledgeable about all pitfalls and will make sure their client’s rights are protected, which may not be the case without a properly signed lease agreement.

Landlords are responsible for the maintenance and upkeep of the property, whereas tenants undertake to use the property only for the purposes under which it is let to them. To understand your rights and responsibilities in terms of which you enter into a commercial lease agreement as either the landlord or tenant, make sure you approach a good solicitor so that there are no unpleasant surprises later on.

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