Property leasing is in important aspect of both business ownership and property investment.
As part of your business ownership, your lease is the document that secures your tenure of your premises. This protects your investment in the fitout of the premises including fixtures and fittings you have installed. It also protects the benefits of the location of your business. This is essential for businesses that rely on their location.
Property leasing is even more important from the property owner’s perspective. If purchasing property as a leasing investment, the lease is the document that governs and secures the income to be generated by a property. Alternatively, if the leasing of property is merely a side issue and the main focus is on future redevelopment of the premises, then it is essential your ability to redevelop is protected by including properly drafted relocation and demolition clauses in the lease.
Whatever side of the lease you are on, a clear, concise and properly drafted lease is absolutely essential for the proper protection of your investment.
It is often thought that a lease is a lease. This is not the case. There are a number important differences between leases depending on the nature of the premises being leased and the nature of the business being conducted from the premises. A lease of the whole of a building in an industrial estate will be very different in a number of critical respects from a lease for retail premises forming part of premises located in a Community Title Scheme.