The field of commercial law is complex. Commercial leases are often more onerous than residential leases and vary significantly.

In order to deal with these the following statutes are some of the most important that apply to commercial leases.

Law of Property Act 1925
The Leasehold Property (Repairs) Act 1938

To ensure that both Landlord and Tenants are protected during the term (Tenancy) and are not exploited or abused, these acts clearly state the duties and the procedures necessary to ensure properties are maintained in accordance with the covenants of the lease and where there is a breach, the correct procedures to rectify the breach.

The lifespan of a commercial lease will vary greatly and in some instances can be up to 999 years. In these instances it is in the best interests of both Landlord and Tenant to ensure that the property is maintained to protect the financial investment of both parties.

Parsons Son & Basley are experienced in the preparation and negotiation of Schedules of Dilapidations. These documents are often prepared at the termination of a lease or shortly prior, to list defects that need to be rectified by the departing tenants in accordance with the lease.

Dealing with dilapidations requires a knowledge of both construction technology and Landlord and Tenant law. Any document incorrectly prepared may, should the matter proceed through the Courts, be rejected resulting in substantial abortive costs.

Parsons Son & Basley's extensive experience in dealing with negotiations of commercial leases ensures that their client, whether it be a Landlord or Tenant, is properly advised.