Landlord & Tenant Law is an extremely complex area. When entering a lease, both the landlord and the tenant need to be fully advised of the rights and obligations being created.
For instance from a tenant’s point of view, a long lease may create certain rights of renewal for a tenant, however, such a lease is generally fully repairing and insuring. These leases can contain extremely onerous clauses if not carefully negotiated on behalf of a tenant. From a landlord’s point of view, the benefit of such a long lease must also be weighed against the granting of renewal rights and also against important VAT considerations. Therefore, it is essential that both a landlord and tenant obtain specialist and expert advice before entering a commercial lease.
If you are contemplating leasing a property or purchasing a property, which you intend to rent on a commercial basis, please call Kevin for a consultation on (01) 284 2420.