Unfortunately, some tenants will be forced to consider administration as a means to salvage their business. If a tenant is in administration if affects what a landlord would otherwise do to enforce the contractual terms of a lease. Here is an overview of what landlords need to know.
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Latest articles from Limor Wolfe
Prepare or Repair - Schedules of Condition and dealing with a tenant's repairing obligation under commercial leases
Schedules of Condition have become commonplace in commercial leases, with tenants holding greater bargaining power in the post-recession years in comparison to the landlord-friendly full repairing and insuring (FRI) leases which dominated the market prior to the banking crisis. But how do you make sure you get them right?
t is vital for any lease to deal clearly with the tenant’s liability for repairs, both throughout the lease and on expiry. Even so, agreeing and enforcing dilapidations claims can often end up being a lengthy (and costly) exercise. Whether you are a landlord or a tenant, there are steps you can take to minimise the risk of unwelcome surprises at the end of lease - and ultimately a long litigation.
The Outer House of the Court of Session has recently considered the question whether the right to a pro indiviso share in a shopping centre car park under a lease conferred a real right.
Rent reviews allow periodic adjustment of commercial rents to the current market level at the date of review. In the current climate, there has been a shift from the traditional upwards only reviews based on open market value to consideration of other alternatives.