Lease Advisory for Occupiers & Tenants
Our team is based in the South West, with offices in Truro, Plymouth, Exeter and Bristol so we are well placed to help you with lease terms, rent reviews and rent concessions.
Lease advice services for occupiers and tenants
Occupiers and tenants are naturally anxious to reduce or minimise costs on their commercial property. Rents, business rates and property costs make up a significant proportion of business overheads and we understand your need to manage those costs.
Achieving the best lease terms and rents on your commercial property remains a key concern, especially during the current changeable and uncertain market. Our team is based in the South West, with offices in Truro, Plymouth, Exeter and Bristol so we are well placed to help you with lease terms, rent reviews and rent concessions.
Vickery Holman offers occupiers and tenants:
- In depth market knowledge of rental values throughout the South West
- Extensive negotiation, management and arbitration skills to enable tenants to achieve the optimum lease terms and minimise rent
- Expert advice and guidance for rent reviews and lease renewals on commercial property and land
- Arbitration and expert witness support in the event of a dispute.
The need to reduce or manage costs has never been so important at the moment. Vickery Holman has a strong track record in helping assess whether your business rates have been calculated correctly. In the event of an error, we can help you challenge your rateable value, which may result in significant cost savings for you.
To find out more about we can help you with your business rates, please look at our Business Rates page.
Key Contacts
Occupiers & Tenants FAQs
What is a commercial lease?
A commercial lease is a contract between two parties to grant the right to use land or buildings. The terms of the contract can vary greatly, and both sides are legally bound by them. Do not get caught out by unintended or unfair conditions but seek specialist advice instead. If the terms cause problems or need action a lease advisory specialist can help.
What is a rent review?
A rent review is a right included in most commercial leases for the rent to be adjusted at periodical intervals. They are almost always for the benefit of the landlord not the tenant as in most cases the rent can only go up not down. The landlord must prove market rents have risen to secure an increase and the legal wording of the lease contract can cause complications. The process can cause conflict if not dealt with correctly and it is important to seek specialist advice.
What is a lease renewal?
When most leases come to an end, the tenant is protected by law and has the right to a new lease. The process triggers a negotiation of what the new lease terms and rent should be to reflect market conditions at that time. There are exceptions where the parties have agreed to exclude protection and some limited circumstances when a landlord can overthrow the protection, for instance if the property is to be redeveloped. The process is complicated, legally binding and contains pitfalls. Both parties need specialist advice to ensure they protect their rights and the process is followed correctly according to the law.
How do I get a lease restructure?
There is no right for either party to change the terms of a lease or restructure except at the end of the lease. To reach an agreement to do that early needs a negotiating lever or joint advantage to both parties. For example, landlords may agree to reduce the rent if the tenant commits to stay for longer in return or a tenant may threaten to activate a break clause unless the landlord will cooperate. Success will depend on seeking specialist advice to identify and apply these options.
What is a landlord responsible for in a commercial lease?
In most commercial leases the terms seek to limit the landlord’s day to day responsibilities as much as possible. The onus is placed on the tenant to repair and look after the property and comply with any restrictions that have been agreed. There are exceptions such as multi occupational buildings where the only practical option is for the landlord to take responsibility and recover the cost by a service charge. It all depends on the exact terms of the contract that specialist advice can clarify.
How do I make sure a break clause works properly?
Break clauses have become more common in recent years mainly to give tenant’s flexibility in uncertain and rapidly changing economic times. There are dangers as time limits and conditions must be strictly complied with. They can also be a useful method to trigger a restructure of the lease. There may be a financial penalty to pay. It is important to use specialist advice to know when and how your break option can benefit you.
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