The Life Cycle of Commercial Leases

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This course is about joined-up thinking and linking together the factors that you need to have in mind, at all the main episodes that typically mark the life of a lease.

It is increasingly the case that there is no such thing as a typical commercial lease. A commercial letting might be a six-month tenancy of a pop-up shop, or it might be a 40-year building lease of an industrial site. Offices and shop units will often be let as part of a building, while a distribution centre or retail warehouse is likely to be stand-alone. Each raise different considerations when it comes to agreeing terms. Changes in technology and society continually create new uses, or challenge limitations on existing ones. A solid grasp of the practical impact of the main terms of commercial leases is therefore essential to ensure that the right deal is done for the specific property.

As lease expiry looms, experience shows that the key to a smooth transition is early consideration of the commercial options, and effective preparation for enforcing lease obligations within that context. 

The day is intended to benefit property managers, agents negotiating lettings, property investors and commercial occupiers.

By the end of the course you will be able to:

• Understand what terms can prevent dilution of covenant strength, and the key legal parameters
• Recognise the issues which are likely to require specialist professional input
• Evaluate the importance in different contexts of alterations restrictions, reinstatement obligations, and repairing obligations
• Appreciate the common service charge structures, and pitfalls to avoid
• Understand the impact that all these issues have upon the rental return from the property
• Plan effectively for lease expiry, placing specific issues in the broad commercial context
• Understand the key commercial drivers for both landlord and tenant, and tactics for effective resolution of disputes