Commercial Property & Leases›Lease Renewals
Lease RenewalsRenew on the right terms, not just the old ones.
As a commercial lease approaches the end of its term, both landlords and tenants need to consider their options carefully. We advise on renewals — whether you want to negotiate new terms, stay put or understand your legal position.
Call us on 03300 430 197 — Levenshulme, Manchester
Review, renegotiate,
renew with confidence.
A lease does not simply continue on the same terms
A commercial lease does not automatically continue on the same terms when the contractual term expires. The options available to a landlord or tenant will depend upon a number of factors.
- The terms of the existing lease.
- The applicable legal framework.
- The intentions of the parties.
- Any statutory rights that may apply, such as security of tenure under the Landlord and Tenant Act 1954.
Understanding your position before the lease expires allows time to consider your options and plan for the future. Many businesses choose to renew because they have invested in their premises, established a loyal customer base or wish to avoid the disruption and expense of relocating. Landlords may wish to retain reliable tenants while ensuring the lease reflects current market conditions.
What a renewal is a chance to review
Every lease renewal is different, but some of the issues commonly considered include:
- Length of the new lease. Whether the existing term remains appropriate or a shorter or longer commitment would better suit your objectives.
- Rent. The rent under the renewed lease may differ from the existing rent depending on the negotiations and the circumstances of the property.
- Repairing obligations. Both parties should understand who will be responsible for repairs and maintenance throughout the tenancy.
- Service charges. Where these apply, it is important to understand how the costs are calculated and what services they cover.
- Break clauses. A renewal may be an opportunity to negotiate greater flexibility through the inclusion or amendment of break clauses.
- Future business requirements. Whether the premises will continue to meet your operational needs throughout the proposed term.
Before negotiations begin, it helps to consider whether the existing lease still meets your commercial needs, whether any terms should be renegotiated and whether future expansion plans are likely to affect your occupation of the premises.
Support throughout the renewal process
We advise commercial landlords and business tenants throughout the lease renewal process. We explain your legal position, review the existing lease and advise on the implications of any proposed changes before a new agreement is reached.
Our objective is to help clients negotiate renewals that reflect their commercial objectives while protecting their legal interests. Whether you are renewing a lease for a retail unit, office, industrial premises or another commercial property, we provide practical advice tailored to your circumstances.
A proactive approach to negotiations
- Practical commercial property advice.
- Clear explanations of lease renewal options.
- Commercially focused legal solutions.
- Advice tailored to landlords and tenants.
- Professional communication throughout your matter.
- A proactive approach to commercial negotiations.
We understand that every business is different and provide advice that supports your long-term commercial objectives.
Lease renewals, answered
Should I begin discussing a renewal before my lease expires?
In many cases, it is sensible to begin considering your options well before the lease comes to an end. This provides time to obtain advice, negotiate terms and avoid unnecessary uncertainty.
Can the terms of a renewed lease differ from my existing lease?
Yes. A renewal often provides an opportunity for the parties to agree new terms that better reflect their current commercial requirements.
Can the rent change when a lease is renewed?
It may do. The rent payable under a renewed lease will depend on the negotiations between the parties and the circumstances of the property.
What if my landlord and I cannot agree the terms of a renewal?
The options available will depend upon the circumstances, the existing lease and the applicable legal framework. Obtaining advice at an early stage can help clarify your position.
Do you advise both landlords and tenants?
Yes. We advise both commercial landlords and business tenants on lease renewals and related commercial property matters.
Approaching the end of your lease? Let's review your options.
Whether you are approaching the end of your commercial lease or beginning negotiations for a new tenancy, we can help you understand your options and protect your commercial interests. Contact us today to arrange an initial consultation and discuss your commercial lease renewal.
Prefer email? Write to info@jeffersonclarke.co.uk