What to watch for in Leases

Traps about Leases
The following are some of the matters that could be traps in leases and you need to be aware of them.

  • If the lease has a low rent at the beginning, then this can increase sharply after the first annual review.

  • If you are leasing retail premises the Retail Shop regulations may apply to your lease. This means that you will need to be familiar with the contents of this act.

  • Once you sign the lease you will be legally bound to fulfil all the terms and conditions in that document such as paying rent and outgoings etc.

  • If you want to carry on the lease after the original term expires start negotiations early.

  • If there are any changes to the lease and the landlord makes that to you verbally, do not accept it. Make sure you obtain it in writing.

Renewing the Lease
Most leases are written to cover a particular period of occupancy. Most leases will also provide for an option to renew once the original period has expired. If you are looking at an extension of your lease make sure ...

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