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Wakefields Lease Agreement

A relatively small amount of time, effort and money to get a legal review of the proposed lease before you commit is a wise investment, but to start here, there are a number of points you should consider when negotiating your lease. In case of emergency preventing access to premises (for example. B the „red zoning“ of the building after an earthquake), how long should this be tolerated before one of the parties can terminate the lease? A month, six months, etc.? The „no access period“ period in the leasing document is 9 months. Can your business maintain rents for so long without access to the premises? We are not only your trusted real estate advisors, but hope that you and your families, friends and colleagues are okay. As we sail together through this period of uncertainty, please know that at Cushman-Wakefield, we stand firm and ready to help you as we can. We will meet this challenge together. Does the term fit your needs? For example, if your business is growing fast and can over-fly premises, it may be best to have a short-term lease (for example. B 2 years) with several rights to extend on similar terms rather than having a long-term lease. There are several reasons why a tenant wants to give in or sublet – for example.

B in the sale of a business. But what many do not know is that the original tenant`s liability does not necessarily end if he cedes the tenancy agreement (and an „agent“) to a new tenant. Can you sell the rental or sublease in all or part of the premises? A changing situation. In the face of a rapidly changing influx of information, economic and legislative activities and government response, we understand that the impact of the COVID 19 pandemic on your business can be significant. We understand that these challenges may include the total or partial loss of use (whether by government mandate, by ownership action or by the company directive); Loss of income Service interruptions Construction and delivery delays Holdover; The Committee on the Environment, Public Health and the Protection of Public Health and the Environment. We are aware that, as part of these challenges, many of you are wondering if and how your financial commitments could be mitigated by your leases, either by the rental language itself or by your insurance policies. The definition of these solutions is further hampered by the rapid development of pending and proposed legislation, economic assistance programmes and government measures.


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