Reasons to choose Wilson Browne
10% surveyed do not understand their commercial lease
In a recent LinkedIn poll conducted by our very own commercial property partner Tom Warrender, a staggering statistic was revealed that 10% of those surveyed felt they did not understand their commercial property lease, had not taken advice at the time of entering into it and could really do with a review.
It was pleasing that some 70% were very comfortable with their lease, took advice at the time and felt confident that they full understood it. Whilst the 10% figure may be in the minority it is still a scary number of people that are contractually bound via their lease to various covenants and liabilities and do not fully understand what they mean.
Obviously we would always recommend that you take advice before entering into a new commercial lease, whether you are landlord, tenant or guarantor, but even where you already have an existing lease, if you have any doubt whatsoever or could just do with a review to bring your awareness of the lease terms up to date then do not hesitate to reach out to our Legal 500 recognised commercial property team here at Wilson Browne Solicitors.