Law society business lease

  • Can I sell my business lease UK?

    Can a business lease be transferred to another person? When selling a leasehold business, the lease for the commercial property will be transferred to the new owner upon completion of the business sale.
    Assigning a lease means selling the lease to another person, in line with conditions set out by your landlord..

  • How do commercial leases work UK?

    A commercial lease is a legally binding contract made between a landlord and a business tenant.
    The lease gives a tenant the right to use certain property for a business or commercial activity for a period of time in exchange for money paid to the landlord..

  • Is lease the same as rent?

    Leasing and renting are similar and sometimes used interchangeably, but there are some subtle differences between the two, like the length of tenancy.
    A lease is generally a long-term agreement while a rental agreement can be on a month-to-month basis..

  • What is a business lease UK?

    A commercial lease is a form of legally binding contract made between a business tenant - your company - and a landlord.
    The lease gives you the right to use the property for business or commercial activity for a set period of time.
    In return for this, you will pay money to the landlord..

  • What is commercial property law UK?

    Commercial Property Law involves dealing with business properties or land that generates profit for the owner.
    Commercial property lawyers take the centre of all legal aspects of buying and selling commercial properties.
    Clients can be from all sectors such as farmers, hotel owners and charities..

  • What is the most common commercial lease?

    A Triple Net Lease (NNN Lease) is the most common type of lease in commercial buildings.
    In a NNN lease, the rent does not include operating expenses.
    Operating expenses include utilities, maintenance, property taxes, insurance and property management..

  • What is the most common lease for industrial property?

    Arguably the favorite among commercial landlords, the triple net lease, or “NNN” lease makes the tenant responsible for the majority of costs, including the base rent, property taxes, insurance, utilities and maintenance.
    This even includes standard property repairs associated with the commercial space in question..

  • A commercial lease is a legally binding contract made between a landlord and a business tenant.
    The lease gives a tenant the right to use certain property for a business or commercial activity for a period of time in exchange for money paid to the landlord.
  • A lease is a contract between a borrower and the owner for the use of an asset where the borrower agrees to pay the owner a specific amount over a specific time to use the borrowed asset.
    For example, if you were to lease a car, you would be borrowing it from the dealership.
  • A Triple Net Lease (NNN Lease) is the most common type of lease in commercial buildings.
    In a NNN lease, the rent does not include operating expenses.
    Operating expenses include utilities, maintenance, property taxes, insurance and property management.
  • Commercial Property Law involves dealing with business properties or land that generates profit for the owner.
    Commercial property lawyers take the centre of all legal aspects of buying and selling commercial properties.
    Clients can be from all sectors such as farmers, hotel owners and charities.
  • There are three main commercial leases in the UK: gross leases, net; leases and percentage leases.
Some forms are only available through third-party suppliers. We've provided links to the suppliers' websites and not directly to the forms, as you may need 
These forms (short-form model commercial leases and LS1 forms) are used for drawing up leases for business premises.

Are model leases appropriate?

Law Society President Joe Egan said:

  • “While these leases may not be appropriate in all circumstances
  • they should ease the process in the majority of transactions.
    By creating a model lease which respects the rights of landlords and tenants, we hope to limit the need for long and challenging negotiations.

    • Is a lease a legally binding contract?

    This lease is a legally binding contract between the landlord and the tenant.
    It is important that both parties take professional advice.
    This document should not be used if the length of the lease is more than five years, nor if the property is not in England and Wales.
    Guidance may be obtained from the explanatory notes, issued separately.

    Is the Law Society liable for a short-form commercial lease?

    While care has been taken to make sure the forms and guidance notes are accurate, up to date and useful, the Law Society will not accept any legal liability in relation to them.
    These short-form model commercial leases are suitable for relatively short lets of office premises.

    What does the Law Society do?

    Property Commercial property Conveyancing Landlord and tenant Leasehold and commonhold Property fraud and… Property taxation Residential property The Law Society is the independent professional body for solicitors.Our vision is to promote, protect and support solicitors, the rule of law and justice in England and Wales.

    Is the Law Society liable for a short-form commercial lease?

    While care has been taken to make sure the forms and guidance notes are accurate, up to date and useful, the Law Society will not accept any legal liability in relation to them

    These short-form model commercial leases are suitable for relatively short lets of office premises

    What is the Law Society?

    The Law Society is the independent professional body for solicitors

    Our vision is to promote, protect and support solicitors, the rule of law and justice in England and Wales

    My LS gives you access to the latest news, events, books and resources to help you excel within your practice

    Green leases: what are they and how do you draft them?

    Who owns the new & revised code for leasing business premises?

    The new and revised Code for leasing business premises (the 2020 Code) is owned and published by RICS as a professional statement but is endorsed and badged by the other organisations

    These organisations are listed within the acknowledgements section of the document


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