Note: Commercial leases can be complex. For high-value or long-term commercial arrangements, we recommend seeking advice from a commercial property solicitor. Our template is suitable for straightforward short-term lettings.
What the Commercial Lease Template Covers
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Frequently Asked Questions
Is a commercial lease different from a residential tenancy agreement?
Yes. Commercial leases are governed by the Landlord and Tenant Act 1954 (for business tenancies) rather than the Housing Act 1988. Tenants in commercial leases may have the right to renew their lease at the end of the term, unless the parties agree to contract out of the Act.
Do I need to register a commercial lease?
Commercial leases of 7 years or more must be registered at HM Land Registry. Shorter leases do not need to be registered but should still be in writing and signed by both parties.
What is a full repairing and insuring lease?
A full repairing and insuring (FRI) lease makes the tenant responsible for all repairs and the cost of insuring the property. This is common for longer commercial leases and transfers significant costs to the tenant.
Can I break a commercial lease early?
Only if the lease includes a break clause. Our template allows you to include a break clause specifying when either party can terminate the lease early and the required notice period.