{"id":186358,"date":"2024-02-20T00:54:16","date_gmt":"2024-02-20T00:54:16","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=186358"},"modified":"2024-02-20T00:54:17","modified_gmt":"2024-02-20T00:54:17","slug":"let-property-business-premises","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/commercial-lease-property\/let-property-business-premises\/","title":{"rendered":"How Can I Let My Property as Business Premises?"},"content":{"rendered":"\n

If you own a commercial property that you do not currently occupy, you may want to lease it to someone, like a small business. This way, you can earn income from your investment. The business owner who chooses your property may use it as their commercial premises, such as for office space. They will pay you rent in return for this space and, potentially, any business rates<\/a>. To lease your property as a business premises in the UK, it is essential to know the various methods available.\u00a0 Each comes with its own set of rules, and the choice between them depends on both your intentions and those of the commercial tenant. This article will explain the different ways you can let your property as business premises in the UK.\u00a0<\/p>\n\n\n\n

Commercial Lease<\/h2>\n\n\n\n

A common way to let your property as business premises is through a commercial lease. A commercial lease is where you grant an owner exclusive occupation of your business property as their premises. This means they will have the same rights on the property as you usually have and can stop you or third parties from entering the property. However, you can reserve rights to legally enter the property in particular circumstances, such as to carry out repairs or organised inspections. <\/p>\n\n\n\n

A commercial lease will contain an agreement with the details of the lease. This is known as a lease agreement<\/a> and is a type of legal contract. However, it is important to note that a commercial lease can also exist without a contract. This is because it is an estate of land. Therefore, a tenant can pass the lease to a third party to take over. This is an assignment.<\/p>\n\n\n\n

The term of a commercial lease can vary. Office leases will often last between 5 to 10 years, while restaurant leases are approximately 25 years and retail leases often 10 years. However, a commercial lease term can be much shorter than this. <\/p>\n\n\n\n

Tenancy at Will<\/h2>\n\n\n\n

One way you can let your property as commercial premises to a business owner is through a tenancy at will<\/a>. Here, the business owner will have occupation of your property as their business premises in return for rent. A tenancy at will can be an express tenancy or one you and your tenant imply through conduct. For instance, you might allow a business owner to stay in your property and accept regular payments from them in exchange. Even if you do not enter a formal lease agreement or written contract, a court might imply that your conduct creates a tenancy at will.<\/p>\n\n\n\n

The significant features of a tenancy at will are that:<\/p>\n\n\n\n