I encounter a lot of commercial tenants that procrastinate in dealing with lease transactions. This is the worst strategy when it comes to commercial property. The transaction-specific risks are:
In rent reviews – any new rent agreed is backdated to the review date. 🗓️ The longer you leave it, the higher that back rent bill climbs! 💸
In lease renewals, key dates matter. Missing them can jeopardize your rights in the property. The landlord can also make interim rent demands – aka a sizable sum to be paid before completion of the new lease! ⏰
New lettings – the market moves fast. The longer the delay, the likelier a shiny new offer appears for the space! 🏃💨
Yes, leasing needs care to dot the i’s and cross the t’s. 📝 But most deals are time-pressed. It is important to get it right the first time and on time. That’s why Olawill prides ourselves on expert, speedy lease and rent review completion. 🚀
Need a free consultation? Contact us today! 👋☎️
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