Understanding the ins and outs of your agreement is essential for both tenants and landlords. Making an informed choice between a lease and a license can save you from future disputes. It's all about knowing what you're getting into, whether you're offering up the property or moving your business in.
What is the difference between a Commercial License and a Commercial Lease?
The differences are significant. A license is pretty straightforward—it gives you the right to use the property temporarily. Think of it as a short-term pass; when time's up, you can be asked to pack up and leave with a 28-day notice. You sign on the dotted line, and that's pretty much it.
On the flip side, a commercial property lease is more of a commitment. It's protected by the Landlord and Tenant Act 1954, laying out clear rights and responsibilities for both you and your landlord. Leases typically last a good while—around 8 to 10 years—and ending one isn't as simple as with a license.
Why should you work with us?
Whether you're diving into a lease or exploring a license, our team of Commercial Property Solicitors is here to guide you. We're the experts in drafting agreements that suit you —whether you're the landlord or the future tenant. With us, you'll understand every last detail before making your mark.
If you are looking at a lease or license agreement, or just want to fully understand what you're signing up for – our Commercial Property Solicitors will make sure your next step is the right step for you. Just call 01926 491181 or email: JamesW@moore-tibbits.co.uk