How much will my legal fees cost?
Well, that depends on various factors such as the complexity of the transitions. Is there a headlease? Or are there more than usual covenants? The landlord may require a rent deposit and we may need to advise you on the terms of a rent deposit deed or provide advice to a guarantor (if the landlord requires a guarantor). For instance, if the landlord requires a rent deposit or a guarantee, this can add to the solicitor’s workload.
It is not necessarily advisable to instruct the cheapest solicitors you can find to negotiate your lease. You can save a lot of time and money in the long run by appointing an experienced solicitor who knows exactly what they are doing.
Commercial Lease Fees for Tenants
Commercial lease terms can be extremely complicated so it is best to make sure that you instruct an efficient and conscientious solicitor. Kaiser solicitors will ensure that the process is stress-free and that you are kept well informed of the negotiations at all times. We will work on your behalf to ensure you get the very best deal.
We will assist you in drafting a commercial lease or reviewing an existing lease if required. Our team of solicitors will negotiate on your behalf with the prospective tenants or their solicitors and prepare all associated legal documentation related to the transaction.
A commercial lease is a legally binding contract that gives the tenant the right to use the property for commercial use over a specified time period. The lease will also stipulate the responsibilities of all parties involved. These obligations will be made clear in the final document.
Surprisingly there is no standardised documents when it comes to leasing commercial space, it is specific to the property and the needs of the parties. It is important that you work with a firm of solicitors who you can trust and that will explain the details to you in simple jargon free terms.
We will keep you informed at each stage of the transaction and advise you on matters such as: Assignment, alterations, rent deposits, rent reviews, service charges, renewals, variations, the state of repairs, (how the property should be maintained over the course of the lease), and break clauses, (in which parties can terminate the lease before the contract ends). We will confirm if the lease provides you with security of tenure which is important.
Before agreeing on the terms of the lease it is important to understand the ramifications of what you are signing. We will ensure that transparency and clarity are maintained throughout the process so that you may enter into the contract with the utmost confidence.