Commercial Leases & Dilapidations - Drafting Solutions in a Changing World
This is a subject area which never goes away: in both boom and bust, landlords need to maintain the value of their investment.
But the issue does not exist in a vacuum. The Covid-19 pandemic has led to ever-shorter lease terms, and greater flexibility as to change of use, both factors which point to limiting repair liability. Concern over climate change calls into question familiar approaches to repair, as well as bringing more onerous regulation.
Conventional lease provisions may be challenged by these developments, and it is striking how often dilapidations disputes can be traced back to what was done or not done at the time the lease was granted. Due diligence prior to signing the lease is one issue, but problems may arise from inadequacy of schedules of condition, lease drafting issues, and licences to alter.
At the same time, dilapidations under an expired lease cast a shadow into the future, too. When dealing with a new letting, or a sale, how does that impact the calculation of an outstanding dilapidations claim, and should the new transaction be structured accordingly? What if a sitting sub-tenant intends to renew their lease?
This course will use case study scenarios to explore the topic in depth. The presenter is the author of ‘A Practical Guide to the Law of Dilapidations’.
What You Will Learn
This course will cover the following:
- Anticipating issues before grant of the lease
- Limiting obligations in short-term leases
- Sustainability and dilapidations
- Providing for alterations, tenant’s fixtures and reinstatement
- Issues arising from sub-leases
- How the new lease affects the old dilapidations claim
- Dispute resolution clauses
9:30am - 5:15pm
Please let us know if you wish to be notified when new dates are added for this programme