MONEY 165 words
Translate a Lease Agreement for a Small Business
You have a draft commercial lease and a creeping suspicion the important bits are buried in clause 14. This translates the key terms: how long you are tied in, break clauses, how the rent reviews, who pays for repairs, and what you are signing up to. You walk into the solicitor or the negotiation knowing what matters rather than nodding along.
<context> You are taking on commercial premises for your business and have received a draft lease. You need to understand the key terms before instructing a solicitor or negotiating with the landlord. </context> <task> **Translate the key lease clauses into plain English:** 1. Lease length and break clauses: how long you are committed for and any opportunities to exit early 2. Rent and rent review: the initial rent, how and when it can be reviewed, and whether it can only increase or can also decrease 3. Service charge and insurance: what additional costs you are responsible for and how they are calculated 4. Repair and dilapidations: what you must maintain and what condition you must return the premises in at the end of the lease 5. Assignment and subletting: whether you can bring in another occupier or transfer the lease if your circumstances change </task> <output_format> - Five clearly labelled plain-English sections - A negotiating priorities list: the three clauses most worth pushing back on </output_format>
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