About this lease
This lease has been drawn for letting part of a multi-tenant building for business use. Typically, the tenant would be a business letting a suite of rooms or one or more floors of a dedicated office building. However, the lease could be equally used for letting a space in any sort of commercial premises with other tenants installed.
The document has been drawn to help protect the landlord's interests as greatly as possible. It includes service charge provisions to provide 100% recovery of service costs.
This lease does not need to be registered at the Land Registry as it is for a short term of 7 years or under.
Similar business lease agreements
If you are letting an entire office building to a single tenant, Office lease or Commercial lease: office building on a business park might be more appropriate. The latter includes service charge recovery provisions if the property shares services such as site security with tenants in other buildings on the park.
Key features
Plain English is used throughout except where it is necessary to use legal terms common in this field of law.
The key features of this template can be summarised as:
- term of 7 years or under (often called a short term lease)
- standard guarantor
- options for transfer or assignment to another party
- sub-letting forbidden
- option to include a break clause for premature termination by the tenant
- a choice of options for rent reviews
- a draft agreement for a security deposit has also been included
- opt-out of Sections 24-28 of the Landlord and Tenant Act 1954
This document has been drawn so as to make it applicable to the vast majority of leasing scenarios without making it difficult to edit. We sell another version of this lease, aimed at property developers, solicitors and surveyors, that contains some additional paragraphs covering more technical points. You might be interested in looking at: Commercial property lease: suite in an office building if you need any of the following:
- provisions for sub-letting
- provisions for an authorised guarantee agreement
- extensive landlord's warranties
- references to land registration for leases with a term greater than 7 years
- prescribed lease clauses
The law in this office lease
Business lease law is regulated primarily by the Landlord and Tenant Act 1954, amended many times. Account has also been taken of:
- the Landlord and Tenant (Covenants) Act 1995;
- the Regulatory Reform Regulations 2003;
- the Joint Committee's Code for Leasing Business Premises;
- the RICS' Code on Service Charges.
In balancing the codes with the law and the interest of the Landlord, we have followed the codes where reasonable, but have preferred the interest of the Landlord where there may be a difference.
Lease template contents
This office lease is comprehensive, providing alternative choices for important decisions. The contents include 25 provisions and 3 schedules covering:
- rent: period, amount, other payments, interest on overdue rent, periodic review
- condition and repair
- tenant's positive obligations
- restrictions on tenant: prohibited activities on the property
- signs and advertisements
- goods and vehicles
- assignment of the lease
- indemnities by the tenant
- security deposit
- insurance
- access for landlord
- guarantor
- termination: default notice by landlord; provision for premature termination (a break clause)
- forfeiture
- security of tenure excluded
- Schedule 1: the service charge
- Schedule 2: rights reserved
- Schedule 3: draft agreement for a security deposit
Reasons to buy from Net Lawman
Full money back guarantee – buy with confidence
This document comes with a no questions asked full money back guarantee. You take no risk that it might not be right. Once you buy it, we’ll give you 30 days to evaluate it in any way you want. If for any reason you’re not happy, just e-mail us and we’ll refund your money in full immediately.
Guidance notes included
We have provided over 3,500 words (9 pages) of extensive, pithy guidance notes to help you complete your business property lease. These notes ensure that you don’t need to be a lawyer to understand how to edit the document.
Minimal editing required
This document has been drawn using a technique whereby you can easily remove what you do not need from the template, without affecting the remaining structure.
Plain language minimises future disagreements
Your agreement is real law written in plain language that all parties will understand.
Buy once and use for multiple tenants and multiple properties
You can use the business lease agreement for multiple tenants and for different properties. Just create a new version from the master version you download.
Delivered straight to your inbox
As soon as you complete the secure checkout process, we will send your lease straight to your inbox. We will also keep a copy for you for 60 days in our customer area so you can access it even when you are away from your e-mail.
Still unsure whether this is the right document for you?
If you are unsure whether this office lease is suitable for your particular circumstances, then you have two options. The first is to buy now, evaluate the template, and use the 30 day, full money back guarantee to obtain a refund if it isn’t suitable. You take no risk in seeing the agreement. The second option is to contact us and ask. We aim to respond to your question within 24 hours. |
