Key Differences from Residential Tenancies

• Governed by the Landlord and Tenant Act 1954 (unless contracted out)
• Tenant may have a right to renew the lease at the end of the term
• Business rates apply (not council tax)
• Repairing obligations are often placed on the tenant (full repairing and insuring lease)
• Rent reviews are common (typically every 3–5 years)
• VAT may be applicable on commercial rents
• The Renters Rights Act does not apply

Parties

Landlord: [Full name and address / company name and registered address]
Tenant: [Company name, registered number, and registered address]
Property: [Full address and description of the premises]

Lease Details

• Term: [X years] from [start date] to [end date]
• Annual rent: £[amount] per annum, payable [quarterly in advance / monthly]
• Rent review: Every [X] years, upward only to open market rent
• Permitted use: [e.g., Use Class E — office / retail / café]
• Break clause: [Yes / No — if yes, specify date and conditions]
• Security deposit: £[amount] — [held as rent deposit / bank guarantee]

Landlord Obligations

• Maintain the structure and exterior of the building (unless full repairing lease)
• Maintain common parts and shared services
• Provide quiet enjoyment of the premises
• Comply with all statutory obligations relating to the building

Tenant Obligations (Full Repairing and Insuring Lease)

• Pay rent on time and in full
• Keep the premises in good repair and condition throughout the term
• Redecorate internally every [X] years and at the end of the term
• Insure the premises (or contribute to the landlord's insurance)
• Pay business rates and all utilities
• Not alter the premises without the landlord's written consent
• Not assign or sublet without the landlord's written consent
• Comply with all planning and statutory requirements
• Yield up the premises in good repair at the end of the term

Landlord and Tenant Act 1954

Unless this lease is contracted out of the Landlord and Tenant Act 1954, the tenant will have a statutory right to renew the lease at the end of the term. To contract out, both parties must follow the prescribed procedure (landlord serves a warning notice, tenant makes a statutory declaration) before the lease is granted.

Signatures

Landlord: _________________________ Date: ___________
Tenant (authorised signatory): _________________________ Date: ___________
Witness: _________________________ Date: ___________