The Retail Leases Act 2003 has accompanying regulations that complement the Act. If you are entering into a lease, it is important that you are aware of the regulations.
The main objectives of the Retail Leases Regulations 2013 are to:
- outline the amount of occupancy costs to exclude certain retail premises;
- provide information about outgoings payable by a tenant;
- outline the form of the landlord’s Disclosure Statement.
The success of your business may depend on a well-negotiated lease.
If you are thinking of leasing property to establish your new business you should consult a solicitor. Even when using a solicitor, you should make absolutely sure that you understand all the provisions of the lease – ask questions until everything is clear and you are certain about the details.
Leasing law is extremely complex. It is very important that you consult a solicitor to help you negotiate your lease. Choose someone who has experience in the field of commercial property leasing.