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Commercial lease renewal

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  • 04-12-2014 10:02pm
    #1
    The_Honeybadger
    Registered Users Posts: 4,157 ✭✭✭


    Hi folks, quick question. I'm currently coming to the end of a 12 month lease on a commercial property. I would like keep the property on at the end of the lease on a month to month basis, as I am not sure if I'll need it for another 12 months. I was also hoping to renegotiate the rent as it is very steep vs equivalent vacant properties in the area (which are plentiful). The landlord recently sent a new 12 month agreement for me to sign at the current rate. They wouldn't have a hope of leasing the property again quickly or at the rate I am paying.

    What are my rights here. Can I insist on a rolling agreement where I can end the lease with reasonable notice (say 2-3 months). I am really not keen on being locked in for another 12 months. Any advice appreciated.


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    #2
    Victor
    Registered Users Posts: 78,333 ✭✭✭✭Victor


    mickeyk wrote: »
    What are my rights here.
    As I understand it, not a lot - accept, reject or negotiate. Commercial tenants don't gain many rights until 3-5 years in.

    The landlord may want to raise the rent if you want it on a month by month basis. What might be more palatable might be a 1 year lease (payable monthly), with a break clause requiring 3 months notice.

    Having a solicitor look over the lease and give you some suggestions might be useful.


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