This is an easy to use business property lease for letting office or storage space above a shop or other space. The tenants in the building shouldn't share any services - the agreement doesn't provide for service charge recovery. Features: short term: 1 to 5 years; guarantor provision; break provision; rent review options; options for assignment; no sub-letting; no management or service charge.
Compliant with the latest law
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- Length:22 pages (5905 words)
- Available in:
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About this business premises lease
This short term lease should be used for letting offices or other rooms above a shop or other commercial premises. The tenants shouldn't share services or facilities. If they do, Net Lawman provides a more suitable lease agreement (see below).
The document has been drawn to help protect the landlord's interests as greatly as possible.
Similar business lease agreements
- If your tenants do share common services and facilities (such as security), Business lease: shop in parade may be more appropriate.
- If there is only one tenant in the building, you should use Office lease agreement.
- We also offer a lease for a retail unit or shop where the same tenant also rents office space within the same building. See Shop lease agreement.
Key features
Plain English is used throughout except where it is necessary to use legal terms common in this field of law.
The key features of this template can be summarised as:
- term of 5 years or under (often called a short term lease)
- standard guarantor
- options for transfer or assignment to another party
- sub-letting forbidden
- option to include a break clause for premature termination by the tenant
- a choice of options for rent reviews
This document has been drawn so as to make it applicable to the vast majority of leasing scenarios without making it difficult to edit.
The law in this office lease
This lease is regulated primarily by:
- the Landlord and Tenant Acts 1860-2005;
- in particular the Landlord and Tenant (Amendment) Act 1980; and
- the Landlord and Tenant (Amendment) Act 1994
In balancing the codes with the law and the interest of the Landlord, we have followed the codes where reasonable, but have preferred the interest of the Landlord where there may be a difference.
Lease template contents
This business lease is comprehensive, providing alternative choices for important decisions.
The contents include 25 provisions and 1 schedule covering:
- rent: period, amount, other payments, interest on overdue rent, periodic review
- condition and repair
- tenant's positive obligations
- restrictions on tenant: prohibited activities on the property
- signs and advertisements
- goods and vehicles
- assignment of the lease
- indemnities by the tenant
- security deposit
- insurance
- access for landlord
- guarantor
- termination: default notice by landlord; provision for premature termination (a break clause)
- forfeiture
- Schedule 1: rights reserved
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