Commercial Property FAQs

Commercial Property FAQs

Obligations of a Lease

Key Points to review for struggling commercial tenants:

Suspension of Rent

Usually only covers situations of damage and Covid-19 and is unlikely to be covered but a tenant could be entitled to a rent suspension due to an uninsured event taking place.

Force Majeure Clause

Allows for the cessation of a parties obligations if an event which is completely outside of their control although rare in modern leases.

Rent Suspension due to global pandemics

Whilst it is unlikely to be found in existing leases, tenants negotiating new leases should see seek to include such provisions.

Break Clause

Allows a tenant to terminate ongoing liability if their business is not viable.

Assignment

Is another business willing to take an Assignment of the Lease?

Commercial Team

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