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Com & Res leases

Valuations

Is there a set Layout/ content for a commercial lease no there is no set layout all of them differ
Com leases usually cover what Rent due, renewal rights, termination rights, ability to transfer/sublet lease, regulation compliance, repairs/ costs
is it a requirement for tenants to register commercial lettings it is a legislative requirement for tenants to register their letting to the PSRA within 30 days of receiving the stamp duty cert.
who produced the commercial lease register the commercial lease register was produces by the PSRA as a result of the property services (regulation) act 2011
what information does the register include in respect of all commercial leases entered into since Jan 1st 2010 The address of the commercial property the subject of the lease; the date of the lease of the property the terms of years of the lease the rent payable in respect of the property
For leases entered into on or after 3 April 2012, the Act imposes an obligation on the tenants of such properties, to furnish the following additional information to the PSRA: The Commencement Date of the Terms of the Lease; Any Capital Contribution Paid in respect of the Property; The Frequency of Rent Reviews; Liabilities, such as: Rates, Insurance, Service Charges Repairs;
Any Particulars of the lease affecting transparency and value, such as: Rent-free Periods, Fitting-out Time, Fit-out Allowances Capital Considerations, Particulars of any Break Clauses.
Contents of Lease: Rent due Rent is usually fixed. Rent is usually market driven. Until next rent review/end of lease These happen every 3 to 5 years Upward only rent reviews have been prohibited going forward from 28 February 2010.
when do tenant gain the rights to stay on Tenants gain rights to stay on/renew the lease if they have been in occupation for 5 years or more
is it possible for the for the tenant to renounce the right It is legally possible for the tenant to renounce the right, unlike in residential tenancy agreements, where the Part 4 rights supersede this.
in commercial leases what is the termination for tenants The tenants usually have no termination rights, unless they have a break clause in the lease
does the break clause allow the tenant to terminate the tenancy A break clause is a clause in a tenancy agreement that provides both tenant and landlord the opportunity to terminate the tenancy agreement early during the fixed-term.
is there any other reasons a tenant may terminate the lease if so what a tenant may also have a right to terminate the lease where a premises has been damaged & the landlord has not fixed it (depending on the lease)
what reasons can a landlord usually terminate a lease Tenants not paying their rent Tenants breaching a covenant of the lease Using the property for something other than its allowed use. Tenant must be given a timeframe to remedy the situation before termination.
Created by: jadaoreilly
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