Talk

Advanced search

Commercial lease assigning

(2 Posts)
candlelight22 Sat 04-Feb-17 13:02:38

Hi,
I have a small shop unit (belonged to my parents) that I have finally found a tenant for.

They have asked if they can have a clause in the lease which allows them to assign the lease in the future and sell the business on. So, do they get a lump sum for the business (custom base/goodwill etc), hand it to someone else and I just carry on getting my rent?

I would want to be able to vet who goes in there eg references etc Can I still do this? It feels like I am giving them control to let it out to someone else in the future.

I am drawing up a contract of course and this will be a part of it. Any hlep appreciated.

Badbadbunny Sun 05-Feb-17 17:01:23

Your solicitor is the best person to ask about what restrictions can legally be put into the lease to enable you to "vet" the assignee. But, in most assignment cases, the original lessor remains liable if the assignee defaults, i.e. remains liable to pay the rent and make repairs etc to the property if the assignee doesn't. Again, your solicitor is the one who'll tell you the best way to do and get the correct wording in the lease.

Join the discussion

Join the discussion

Registering is free, easy, and means you can join in the discussion, get discounts, win prizes and lots more.

Register now