There are many fields of law, and one focuses on commercial leasing and property purchases, and as every business must be located somewhere, they would all either lease or own their business premises. Leasing is the accepted way for a young business to acquire suitable premises, as a new venture would not have the sufficient capital to purchase, and besides, it doesn’t make sense to buy until the business is well-established.
Leasing a Commercial Property
When a company owner decides to lease a particular property, they would be faced with “Heads of Terms”, which defines the terms of the lease agreement, and this document would be compiled by the landlord and the tenant would need to hire the services of a commercial lawyer, who would examine the agreement and if there were anything unusual or unreasonable, the solicitor would point this out to their client, and in some cases, will negotiate with the landlord over specific issues. If you are looking for a commercial solicitor in London, for instance, an online search would be the best place to start, and it is advisable to do this prior to making any enquiries regarding leasing a particular property.
In the event the tenant company feels the terms and conditions of the lease are not being fully met by the landlord, they can enlist the help of a suitable lawyer, who could take legal steps to ensure this is rectified. The landlord might have a change of heart, and is trying to find a way to end the agreement ahead of the duration, and in this case, it is important for the tenant company to know their rights, and with a legal expert in their corner, they have a good chance of success in defending the terms. Sometimes, the tenant requires to make some building alterations, in order to further facilitate their business, and the commercial lawyer can begin the process of applying to the landlord for permission to make the necessary alterations to the property.
As the lease is drawing to its close, should the tenant wish to renew, they would be well advised to employ the services of an experienced commercial solicitor who could negotiate on their behalf to get favourable terms.
Freehold Commercial Property Purchase
In the event a company has decided to purchase property, which might be due to expansion, or relocation, and the complex legal process that accompanies such a purchase is best left to an experienced commercial property solicitor. He or she would ensure that the proceedings went along smoothly and that deadlines would be met. The purchaser might wish to pay for the property outright, or possibly take out a commercial mortgage, and this is something the solicitor can help with, and with their help an affordable mortgage can be sourced, with favourable terms for the borrower.
These specialised services are an essential part of the process of leasing or buying commercial property, and with an experienced commercial property lawyer assisting you, the transaction can be swiftly completed to your satisfaction.