FREE UK Commercial Lease Agreement

COMMERCIAL LEASE AGREEMENT

This Lease agreement is made on [Date], between ________], residing at [Address] herein referred to as Landlord and [________], residing at [Address] herein referred to as Tenant. This shall be a head lease agreement and any sub-lease made thereunder shall be made with prior and due written terms & conditions as agreed between both the parties.

The above referred Landlord and Tenant are hereinafter collectively referred to as “Parties” and individually as “Party”.

1. The Property: This Tenancy agreement is made for the [Description and address of the property] , called as the Property together with all furniture, fittings and fixtures for the rent being [Description of the rent] per month payable by the Tenant to the Landlord on the first week of every month in advance. It is understood and agreed between both the parties that the Rent shall be subject to a [number] % increase after expiry of every year.

2. Term: The term of this Tenancy Agreement shall be valid for an initial period of [ ] years, which shall be renewal subject to mutual consent of both the parties. The Tenant shall hand over a peaceful possession of the Property to the Landlord at the end of the Term of this Tenancy Agreement. It is agreed and understood between both the parties that the provisions of The Landlord and Tenant Act 1954 providing the rights to renew their lease shall not be available to the Tenant.

3. Deposit: There shall be a security deposit which shall be refundable interest free at the end of this Tenancy Agreement.

4. General Terms:

4.1 The Landlord shall effect timely to cover the said Property under the applicable Comprehensive Insurance Policy as applicable, including but not limited to fire, flood, riot, lightning, storm, impact, theft or such other third party claims.

4.2 The Landlord shall keep the Property in proper conditions and shall maintain it timely as reasonable required. The Landlord shall keep the property safe at all the times. The landlord undertakes to provide services that include the repair and maintenance of the structure and exterior of the building and its common parts, the Tenant contributing to the costs of such maintenance by means of a service charge.

4.6 The Tenant shall not cause any damage to the Property and shall be responsible for the same. The Tenant shall not make any permanent alteration to the said Property. The Tenant will comply with all legislation applicable to the Tenant’s use of the Premises; the Tenant will not do anything which may result in a statutory requirement arising for work to be carried out on the Premises or any other premises of the Landlord.

4.8 The Tenant shall be responsible for all the Council Taxes and charges for water and sewage.

4.11 It is agreed and understood that the Tenant will not assign, sublet, charge, part with possession of, or share the occupation of, the whole or any part of the Premises, except that if the Tenant is a limited company it may share occupation with another company in its group (as defined in Landlord and Tenant Act 1954 section 42(l)).

4.12 The notices relating to this Lease or to the Premises may be served in accordance with Law of Property Act 1925 section 196. The Landlord has served on the Tenant a notice in the form, or substantially in the form, set out in Schedule 1 to the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 (“the Order”). The requirements specified in Schedule 2 to the Order have been met in that the Tenant has made the appropriate declaration in the form, or substantially in the form, set out in Schedule 2 to the Order.

Landlord Tenant

_________________ ____________________

Date: Date:





SCHEDULE

DESCRPTION OF THE PROPERTY

[Description of the Property, furniture and fixtures]