What's the answer?

In my previous three articles, I have expressed a need to make the modern commercial lease a more accessible user-friendly document without detracting from its important legal implications. I’ve advocated for the inclusion of a ‘map’, a simple sheet highlighting the important clauses within the document, and again I know they are all important. I could hide and say it would up to the individual to decide what is important but why don’t I have a stab? Below is not definitive but we have to start somewhere.

Lease Date:

Type of Lease/Licence:

Landlord: Landlord Address Company Number:

Tenant: Tenant Address Company Number:

Demised Premises:

Outside 1954 Act:

Term Commencement Date:

Term End Date:

Length Of Term:

Rent Commencement Date:

Initial Rent:

Rent Free Period:

Service Charge Commencement Date:

Rent Review Dates:

Fixed Break Clause Dates:

Notice Date:

Option By:

Rolling Break Provisions:

Notice Date:

Option By:

Penalty Interest:

With a format as simple as this it will make the primary navigation all that simpler. Of course, errors may occur in transferring the core information to The Map but that’s not the fault of The Map, it is the responsibility of the person drafting and checking the document.

Early on in this series of articles, I stressed that some leases are better than others and some I have come across are almost there. Many will believe my thoughts are unnecessary and bring little to the argument but perhaps it is time we moved into the computer age.