We often get enquiries from property owners who are trying to
decide how to document the short-term occupation of their business
premises.
In this blog, we consider the advantages and disadvantages of
using a lease, licence, and tenancy at will for the occupation
of commercial property on a short-term
basis.
Lease
A lease is an agreement that grants
exclusive possession of the premises to the tenant for a fixed
period and is an estate in land.
Even if the parties have intended to grant a licence or tenancy
at will and have labelled the document as such, a lease may still
be created if the tenant has exclusive possession of the
premises.
Exclusive possession means possession of the premises to the
exclusion of all others, including the landlord (although the lease
will usually reserve rights of entry for the landlord to inspect
and repair the premises where necessary).
