AT CARLTON PARK WE WORK DIFFERENTLY...
Our lease negotiation team act to ensure that as a landlord, your rights are fully protected when entering legal agreements with your tenants.
As a commercial property owner you need to maximise the return on your investment by ensuring that the units are correctly leased to tenants of good standing and that you are suitably represented in the terms of any agreement. At Carlton Park we are experts in this area having managed lease negotiations on behalf of portfolios from one unit to multiple centres.
How suitable is the Tenant?
Be sure to get references as and when applicable, and ensure the tenants that move in will suit the property and the area.
Proposed Use of the Property
How will the property be used, and are there are issues surrounding planning permission for this?
You will need to make sure the tenancy is financially secure – either in the form of a rent deposit or guarantor.
Length of the Term
In the contract, you will need to stipulate how long the minimum tenancy will be.
A break clause is a term in an agreement enabling a tenant to leave a property before the tenancy period comes to an end.
Right to Renew
Many commercial property leases have the ability to renew at the end of the tenancy. However, the right to renew can be excluded for a number of reasons.
Maintenance, Decoration and Insurance
When becoming a landlord, issues around maintenance and decoration will have to be decided. It’ll need to be defined who looks after this and keeps up with required tasks.
Is there any work to be carried out before the tenant moves in? It’s likely that issues around pre-occupation will look at what affects the building as an asset as well as structural and building integrity.
Rent Holidays/Stepped Rents
A stepped rent is rent which increases over the period of the lease. Any adjustment of rent will need to be decided early on in the process.
Asbestos and Energy Performance Certificates
It’s obligatory to carry out structural and electrical checks on your commercial property before letting it out. Obtain energy performance certificates at the earliest opportunity.
Is the Tenant Paying Surveyor and Legal Fees?
In some cases, it is possible to stipulate that the tenant pays associated fees relating to the lease of the property.
Is Lender’s Consent to the Lease Required?
The mortgage lender will need to be notified if you are letting out your property and can have the power to ask you to stop letting.
Deadlines and Timescales
It’s important to set a framework when becoming a landlord – set yourself deadlines and timescales and work to and set goals depending on agreed targets
These items together with many more form the basis of any lease negotiations. Let our specialist team at Carlton Park manage the process on your behalf and ensure that all bases are covered and your rights as a landlord are fully protected
Israel has recently assisted me in reclaiming outstanding rent owed by previous commercial tenants. Initially, I didn’t think I was able to secure the amount owed – let alone that it would be financially viable to do so. With Carlton Park’s help, I’ve been able to retrieve [a large percentage] of backdated rent, and in the process, enthusiasm in my investment has been restored. In short, I'm very happy with the work undertaken on my behalf. Thank you Israel and the Carlton Park team.
I have worked regularly with Israel on various commercial property matter for over 8 years. He is very knowledgeable and experienced in commercial property management and always goes the extra mile to get the right result for his clients. He is professional and courteous at all times-and is especially good a keeping a cool head in difficult situations.
Israel is one of those rare individuals with a wealth of experience of the day to day aspects of property management but with expertise and knowledge to assist his clients by providing very accurate and helpful advice to the professionals he works with. As a lawyer I find Israel a very proactive and commercial client who is always able to contribute with effective and well thought out strategic approaches to property issues