The use of a good drafted commercial Lease or Sub Lease is crucial if you want to prevent possible future disputes.
If the other party does not comply with the terms of the Lease, then the Lease will provide certain remedies such as arbitration that avoid costly proceedings through the Courts. If the in-built procedures do not help any given situation, then there is provision to refer a dispute, such as for rent, to the Leasehold Tribunal.
Sub Leases require a further document called the ‘License to Sublet’, and this is granted by the Landlord. Whether you are a landlord or a tenant, you will need a well drafted License that will meet the requirements and avoid possible disputes arising in the future.
Beware – leases are substantial and often complex documents. You must be aware that some Head Leases will set out various requirements that have to be observed in the way in which the Sub Lease is to be drafted. I recommended that you consult one of our specialist Solicitors, who can give you clear and thorough advice on the best way to deal with the assignment and registration of the Sub Lease with the Land Registry for you.