tenant rights

T

thomastank

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hi anyone know where i can get info on what rights i have when renting a comercial premises.eg how much can they put up rent ,writing up contract's etc
thanks
 
There should be a lease for commercial premises. There aren't the equivalent regulations for commercial property as there are for residential tenancies as far as I know. Do you have a lease already? If you are not yet in commercial premises, then you should definitely sign a lease, which will deal with all your queries. In my experience, the landlord will supply the lease and both parties will cover the costs of their own side of the lease negotiations.

Sprite
 
Agree with WaterSprite.

Most commerical leases will include dates for possible rent reviews e.g. every 5 years and mechanisms for doing the review - could be by valuation, linked to a particular index like CPI or some other mechanism.
 
A commercial lease for over 5 years will detail everything to do with rent reveiws, tenants obligations, terminations etc, when you have a commercial lease over 5 years you have automatic rights to renewal of the lease but is not the case for under 5 years, the lease should cover everything, there is no body similar to residential leases to protect rights, the lease is your main port of call.
 
have no lease contract but there 10years,but have i still rights ,can they put up rent every year,2 years or is the standard review every 5 years and how much is acceptable eg 10% 20%.
 
Why don't you ask for a Lease?

If you take legal advice, you may find that you are entitled to a full lease and if you are not satisfied with the terms offered and if your advice is that the terms offered are not reasonable/normal a Court can adjudicate. But the expense of all of that may not be worth it.

It all comes down to commercial reality. And while a tenant does have certain rights, equally a Landlord is entitled to a reasonable return on their property, whether or not that suits the tenant.

mf
 
asked before and they because we are there more than 5 years no point puttin expense on me ,now want to put up rent 60% and review in 2 years!
 
the lease should state when the rent revies are due and you should be paying no more then market rent. You should engage an auctioneer to provide a valuation of the market rent and to ensure that your lease represents your interests best. The auctioneer can negotiate down the price and put into place a decent structure so that you have greater stability. Are you responsible for repair and insurance etc, all of these things are taken into consideration when coming to a fair rent.
 
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