Agreement for Lease
Commercial leases need to be reviewed and negotiated. To enable lessors and lessees to agree to the main terms of the lease, they often enter into an agreement for lease. This is also known as a heads of agreement.
Prepare a commercial lease
A commercial lease is generally prepared by the lessor’s solicitors. Those terms will allocate risk between the lessor and lessee. They commonly address matters such as insurance, make good obligations and rent reviews.
Review and negotiate lease terms
It is important to engage an experienced lawyer to review and negotiate lease terms. Leases are binding contractual agreements and often apply for several years.
Negotiating lease terms can lead to fairer contract terms. For example, make good obligations may need to be adjusted and lessees may want to consider charges for outgoings. It is also important for commercial leases to accurately reflect the agreement for lease.