Commercial Lease
The termination or renewal procedures for a commercial lease are commenced when either the landlord serves a notice of termination on the tenant (s 25 notice) or the tenant requests a new tenancy (s 26 notice).
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Commercial Lease - Full Repairing and Insuring
A Commercial Full Repairing and Insuring Lease (FRI) is a type of lease used for commercial properties and has become increasingly popular with commercial landlords. The responsibility of the landlord is to arrange buildings insurance and collect the premium from the tenant.
A commercial rent review gives a landlord the right to increase the rent and a tenant the right to challenge any increase. Details about rent reviews will be stated within the lease agreement, but are typically carried out every three to five years.
Ending and renewing commercial leases
The termination or renewal procedures are commenced when either the landlord serves a notice of termination on the tenant (s 25 notice) or the tenant requests a new tenancy (s 26 notice). These notices can be served not more than 12 months or less than 6 months before the contractual expiry date in the lease.
