Before entering into a commercial lease, the tenant and landlord must negotiate the terms of the lease. This is especially significant in Scotland where there is no legislation (such as the Landlord and Tenant Act 1954 in England and Wales) to enforce the rights and obligations of each party. Instead, the relationship between lessor and lessee will be entirely defined by the conditions set out in the contract itself. The negotiation stages are, therefore, of the utmost importance.
Why is negotiating a commercial lease so important?
When you are drafting a commercial lease, you must go through every single clause to ensure you are completely happy with each aspect. If there is something you feel compromises your position, you must negotiate with the other party and attempt to reach a mutually acceptable agreement. If you do not take this precaution, you could fall victim to the terms of the lease; and because the lease is considered a matter of contract, there will be very little you can do. In short, you will not be protected by the law. Therefore negotiating a commercial lease that promotes your best interests is crucial if you want to avoid falling into any pitfalls later down the line.
How to negotiate a commercial lease
In order to negotiate a lease that matches your needs and limits your liability, there is one thing you must do: you must instruct a solicitor who specialises in commercial leases from the outset. Having a legal expert on your side from the very beginning will prove beneficial, as they will negotiate a lease on your behalf, ensuring your rights are safeguarded and any hazards are identified.
Although it is possible to attempt negotiations alone, you need to remember that this is a complex area of the law with many loopholes and legal minutiae. Without professional expertise on your side, you are much more likely to sign a contract that actually puts you and your livelihood at risk. This could prove costly, both in terms of time and money. Therefore it is much safer to ask a solicitor to assist with your commercial lease, as this will prevent you from entering into a contract will unfavourable terms.
Need help negotiating a commercial lease in Dundee or Edinburgh?
If you would like help negotiating a commercial lease in Scotland, you need to speak to a commercial property expert. Here at Blackadders, we have an experienced legal team who are ready to assist with all commercial property queries. For more information, contact us today and talk to one of our specialist solicitors.
For more information, simply call us on 01382 229 222 (Dundee) or 0131 222 8000 (Edinburgh) or complete the enquiry form on the right of this page and we will be delighted to help you