As a business owner, you may have a retail or commercial lease for your commercial business space. A lease agreement will detail your use of this space, including when your use of the business premises expires. As your company will rely on the property to run your business, you must understand what to do when your existing lease is about to expire. This article explains your options when your lease is about to expire. These depend primarily on whether you have a protected lease or not.<\/p>\n\n\n\n
A retail or commercial lease concerns your occupation as a commercial tenant or lessee in your business property. You will occupy the premises for a specific purpose in return for monthly payments to your landlord or lessor. <\/p>\n\n\n\n
Generally, a \u2018protected\u2019 commercial lease is where your lease agreement:<\/p>\n\n\n\n
Where you have a commercial lease, you will have a commercial lease agreement that details the lease. This contract will describe, for example:<\/p>\n\n\n\n
The lease’s end date is when the fixed term of the lease<\/a> expires. If you have a protected tenancy, the lease will not automatically end. If the lease is not protected, you will be required to vacate the premises.<\/p>\n<\/div>\n\n\n\n As a commercial tenant, you have some options open to you, which we explain below.<\/p>\n\n\n\n When your retail lease is about to expire, you may be able to renew it, depending on whether you have a protected or unprotected lease.<\/p>\n\n\n\n If you have a \u2018protected lease\u2019, you have a legal right to renew your tenancy. Your lease will continue automatically after the fixed term ends unless your landlord gives you a Section 25 Notice<\/a> which opposes a renewal. The notice must meet specific legal requirements, and there are limited grounds on which it can lawfully be valid. If the Section 25 Notice does not meet the legal requirements, you may have rights to challenge this in court. <\/p>\n\n\n\n Additionally, you can request renewal of your retail lease when it is about to expire and before the landlord issues their notice. You can do this with a Section 26 Notice<\/a> which must also meet specific legal requirements to be valid. Unless your lease was contracted out of sections 24 to 28 of the Landlord and Tenant Act 1954, it might very well be a protected tenancy that gives you access to these rights.<\/p>\n\n\n\n If your lease is not protected, it will finish at the end of the contractual term. You do not have a legal right to a renewal. Instead, you will need to negotiate to renew your lease.<\/p>\n\n\n\n Notably, your landlord’s actions can be relevant when your lease expires. For example, if you remain in the property and they accept your rent payments, this may give you legal rights to suggest the lease continues. In addition, it may mean your lease becomes a protected tenancy.<\/p>\n\n\n\n\n\n Continue reading this article below the form\n <\/i>\n<\/a>\nCan I Renew My Lease? <\/h2>\n\n\n\n
A \u2018Protected Lease\u2019<\/h3>\n\n\n\n
An Unprotected Lease<\/h3>\n\n\n\n