Yes. Whilst there is no legal requirement to do so, it is important to have a written agreement signed by both the Landlord and Tenant to ensure that all aspects of the lease are expressed in writing. This not only proves useful when a dispute arises, but more importantly enables both parties to understand their responsibilities and obligations under the lease. Issues could be with respect to (but not limited to) the duration of the lease, the rent payable under the lease, or the rent review period.

We would not advise any party to obtain a template lease from the internet as these prove inadequate and not fit for purpose. Unfortunately, you may only realise this once a dispute arises or when you intend to assign, transfer or end the lease.

It is therefore important that you seek advice from qualified solicitors from the outset. This no doubt, proves to be the right course of action in the long term.

A Tenant who fails to make payments towards rent regularly or becomes unable to keep up with the rental payments may become a worrying situation for any Landlord. Quite understandably this can be due to a variety of reasons for example the Tenant may have become ill and therefore unable to continue business, or the Tenant’s business may not be doing so well financially, hence, the reason why the Tenant is defaulting in rent payments.

Depending on the terms of the lease, you may be able to terminate the lease on grounds that the Tenant has breached the terms of the lease. This can be a complicated process and we advise you to get legal advice in this regard.

Yes – you may wish to consider having a written business agreement in place to confirm the nature and extent of the business relationship. Business relationships quite often turn sour due to uncertainties over a verbal business agreement entered into many years ago. A business agreement in writing details the roles responsibilities and share of each business partner. If one business partner dies then again having an agreement in writing assists in resolving any potential disputes that may arise.