There are plenty of potential pitfalls when negotiating and drafting a lease of commercial premises and once the lease is in place there are still danger areas. This highly practical seminar, presented by a leading speaker on land and property law, concentrates on eight topics which can present problems when dealing with existing leases. Aimed at experienced Commercial Landlord and Tenant practitioners, Property Litigators and Surveyors alike, it is a practical analysis of the key issues which can arise and will focus on how to avoid the potential pitfalls.
What You Will Learn
- Break clauses - The right to determine a lease early can be of the utmost benefit to a tenant. However, break clauses are many and various, and exercising them effectively is not always straightforward. What must a tenant do to make sure they can exercise a break clause in a lease?
- Rent reviews - The interpretation of rent review clauses can present real problems, and they may not always operate in a manner which at first seems obvious. Practical examples of cases in which the interpretation of rent review clauses are considered, along with an analysis of the consequences of marking a rent review trigger notice as 'without prejudice' or 'subject to contract'
- Repairing obligations - The Dilapidations Protocol came into force on 1 January 2012, with a common commencement date of 6 April 2012. This part of the seminar looks at the rights and obligations of a tenant and landlord regarding repairs at the end of a lease, and considers how a landlord should go about bringing a dilapidations claim and how a tenant should respond to one
- Forfeiture - Unlike the position with residential leases, where the landlord's right to forfeit has been progressively weakened through statute, the right to forfeit remains a formidable weapon for landlords of commercial premises. Equally formidable, however, are the consequences of getting it wrong. This part of the seminar looks at who can forfeit, when forfeiture can be effected and how
- User covenants - User covenants, like all provisions in a lease, need to be properly interpreted so that both parties understand what their rights and obligations are. Practical advice is given in this section regarding the interpretation of user covenants generally and also looks at some specific provisions commonly included in commercial leases
- Covenants against additions and alterations - Tenants may need to alter the fabric of a building in order to enable them to use it as part of their business. Landlords will wish to ensure that nothing the tenant does affects the value of their investment in the building. Once again, the provisions of any commercial lease will have to be read in light of the relevant statutory provisions, and in this section of the seminar those statutory provisions, and their application in practice, will be considered
- Insolvency - Insolvency is something which can affect landlords and tenants alike. Particular difficulties can arise when a lease is disclaimed by a liquidator or trustee in bankruptcy, especially in relation to guarantors and sub-tenants. Landlords need to know whether or not the disclaimer of a lease ends their entitlement to rent, and guarantors and sub-tenants need to know how to respond to a disclaimer. These and other topics relating to the disclaiming of leases are covered here
- Restrictions on alienation - If a landlord wishes to restrict a tenant's right to sublet or assign a lease then the lease must contain a restriction to that effect. However, even where this is done, the Landlord and Tenant Acts 1927 and 1988 may apply with the result that the landlord is under a range of statutory duties, with the potential for damages to be awarded if the landlord is in breach. This part of the seminar looks at the effect of these statutes and the consequences of getting it wrong
2:00pm - 5:15pm
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