An overview of what an Agreement for Lease is.
What is an Agreement for Lease?
An agreement for lease is a legally binding contract in which a landlord and tenant agree to enter into a lease at a future date, subject to the satisfaction of certain conditions which often include (but are not limited to) completion of construction or other landlord works, obtaining planning permission, the landlord obtaining vacant possession of the property or the tenant completing fit-out works. The agreement typically sets out the main terms of the proposed lease, such as the rent, term of lease, the permitted use, and obligations on the landlord and tenant with a form of agreed lease annexed. Once the conditions are met, the lease is completed in accordance with the terms of the agreement. The agreement for lease will set out the mechanism for effecting completion of the lease including timings, any notice to be given and any further documents (such as a Licence to Alter or Rent Deposit Deed) to
