Ending a Business Lease?
If you are coming to an end of your business tenancy then it is worth checking the terms of your lease in plenty of time to make sure you are aware of your obligations. The big issue is always repair; what are the repairing obligations in your lease? Are you responsible for repairing the whole of the building or just the internal parts? Do you need to replace floor coverings? Have you decorated the property as often as the lease requires?
When the lease end you will need to hand back the property in the state of repair required by your lease. This means repaired and decorated as set out in the lease. For some leases this means full repair of the whole structure, for some internal parts only, while some have schedules of condition attached showing the state of the property when the lease was entered into.
Most leases will require you to decorate in the last few months and normally provide that the final decoration should be in colours approved by the landlord.
Checking the lease terms well in advance of the end of your lease will give you more time to put in place a programme of repairs and decoration, spread the cost and hopefully minimise your liability to the Landlord at the end of the term.
At the end of the lease the Landlord will be entitled to serve a list on you (a schedule of dilapidations) setting out the works and repairs it considers necessary to bring the property into the state of repair required by the lease. You can instruct a surveyor to negotiate on your behalf and try and agree some of the works aren’t necessary. The bottom line is though as Tenant you are responsible for handing the property back in the repair and condition required by the lease and this will mean either carrying out the agreed works to the satisfaction of the landlord, or paying to the landlord a sum to carry out the works. Being prepared means you can spread the cost, the disruption to your business and minimise your liability to your landlord.
For more information about how we can assist please contact Elizabeth Williams on 01926 679631 or firstname.lastname@example.org
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