What happens when a business lease expires?

If the Tenant wishes to terminate their lease after their commercial lease expires, they have two options. They can either: Vacate the premises on the expiration date without providing any notice. Serving a S27 Notice which is to be served 3 months’ in advance.

What’s the average length of a business lease?

The term is usually “fixed” for a certain length, e.g. 5 years, after which occupancy can continue on a “periodic” basis (for example, month to month or year to year).

Is it possible to get out of a business lease?

In these conditions, the landlord can expect to find a new tenant soon and perhaps to increase the rent. You may even be able to negotiate a cash premium for leaving the premises. If the property market is weak (and rents and occupancy rates are low), your landlord may be extremely reluctant to agree a deal.

What happens if I leave before the end of my lease?

Find out what landlords can (and can’t) do when tenants leave before the end of their lease. A lease is a written agreement for the rental of a property for a fixed amount of time—typically one year. When the fixed amount of time (the “term” of the lease) is over, the lease ends. At this point, one of a few things can happen:

Can a landlord sell a business while the lease is still active?

Perhaps your landlord sold the commercial property that your business is in while the lease agreement is still active. Maybe one of their relatives actually owns the property on paper and they are just acting as the landlord. As the seller, you’ll want to make sure the person you know as the landlord is actually the owner of the property.

Find out what landlords can (and can’t) do when tenants leave before the end of their lease. A lease is a written agreement for the rental of a property for a fixed amount of time—typically one year. When the fixed amount of time (the “term” of the lease) is over, the lease ends. At this point, one of a few things can happen:

What’s the difference between a one year lease and a two year lease?

With the standard one-year lease, you’re guaranteed a place to live at a fixed rate for that period of time. Simultaneously, you’re bound to that contract and can’t simply leave without financial repercussions.

Perhaps your landlord sold the commercial property that your business is in while the lease agreement is still active. Maybe one of their relatives actually owns the property on paper and they are just acting as the landlord. As the seller, you’ll want to make sure the person you know as the landlord is actually the owner of the property.

Can a new owner change the terms of a lease?

If you are on a term lease (like 6-months or a year) the new owner has to legally take over the lease and continue to uphold the lease agreement terms you agreed to. If you are a month-to-month tenant the new owner can change conditions of the lease if proper notice is given.