A lease is a legally binding contract that gives you certain
rights to a property for a set term. A written commercial lease is
used when leasing property used primarily for a business.
You should never sign a lease without understanding all of its
terms and conditions. If you don't understand what you are
agreeing to you could experience serious financial and legal
problems.
Pre-contract negotiations
Before entering into a lease it is usual for a period of
negotiation to take place between the Landlord and the Tenant and
it is important to understand the relationship being entered into
and the rights and obligations created in the lease document. It is
also important that the negotiations are conducted so that the
commercial terms are agreed before a binding agreement is created
as it is possible to be locked into a commercial lease without
signing any paperwork if the right precautions are not taken.
