The latest from Aqqord
& the world of property
Heads of Terms: What Should Be in Them and Why It Matters
Heads of terms for a commercial lease set out the key points of the deal before the legal drafting begins. It’s the commercial summary: the bones that the full lease then gets built around. It’s tempting to treat it as a formality and rush through it to get to the “real” paperwork. That’s a mistake. […]
Contracted-Out Leases: The Warning Notice and the Declaration
Sometimes a landlord doesn’t want a tenant to have the automatic right to renew at the end of the term. Maybe they’re planning to redevelop, or sell with vacant possession, or move in themselves. In those cases the landlord can grant a contracted-out lease from the renewal protections in the 1954 Act. It’s a perfectly […]
Rent Reviews: Open Market vs RPI vs CPI
On a lease of any length, the rent you agree at the start usually isn’t the rent you’ll pay throughout. Most leases include a commercial lease rent review: a point, often every three or five years, where the rent can be adjusted. How that adjustment is calculated is one of the most important commercial terms […]
Break Clauses: The Three Details That Make or Break Them
A break clause in a commercial lease gives either the landlord or tenant the right to end the lease early — but only if the right conditions are met. A break clause is one of the most valuable things a tenant can have in a commercial lease: the difference between being locked into a ten-year […]
Section 25 Notices: What They Are and When They’re Used
A Section 25 Notice may sound like something only a solicitor needs to worry about. However, for a commercial landlord or tenant with a lease protected by the 1954 Act, it is a crucial document. It determines what happens when the lease term comes to an end. Get the timing wrong, and you could lose […]
The Landlord and Tenant Act 1954, in Plain English
If you’re taking on or letting a commercial property, sooner or later someone will mention “the 1954 Act” in a slightly ominous tone. It tends to get treated as a piece of legal mystery best left to the solicitors. It isn’t, really. The core idea is simple, and it matters enough that both sides should […]
Land Registry and Commercial Leases: When Do You Need to Register?
Most people who sign a commercial lease don’t think much about land registry lease registration. They get the lease signed, hand over the keys, and get on with things. Then someone mentions the lease should have been registered — and suddenly there’s a problem. Here’s what you need to know, and when you need to […]
A Guide to Commercial Lease Negotiations for Small Business Owners
Taking on your first commercial lease negotiation is exciting. It’s also, if nobody’s warned you, the moment you discover just how much there is to negotiate — and how much it matters to get it right. If you’re looking for practical tenant lease advice before you sign anything, you’re in the right place. This guide […]
How to Reduce Void Periods on Commercial Property
Void periods on commercial property are one of the most costly problems a landlord faces — and many of them go on far longer than they need to. Every landlord knows that feeling. The previous tenant has moved out, you’ve got a new one lined up, terms are agreed — and then you wait. And […]
Licence to Occupy UK: Commercial Lease vs Licence Explained
Not sure whether you need a commercial lease or a licence to occupy? This plain English guide explains the key differences and helps UK landlords and agents choose the right option.