Commercial Lease AgreementEngland & Wales · Commercial Property · LTA 1954 · PDF
FRI: Tenant responsible for all repairs including structure and exterior. IRI: Tenant repairs interior only; landlord handles structure, roof and exterior.
Caps repair liability to the state of the property at commencement. Strongly recommended for IRI or older properties.
Inside: Tenant has statutory right to renew at expiry. Outside (contracted out): Lease ends on expiry date - no renewal right. Landlord must serve a warning notice at least 14 days before signing.
Important: A commercial lease is a complex legal document. If excluding the Landlord and Tenant Act 1954, a warning notice must be served and a tenant declaration completed before signing. Leases over 3 years must be executed as a deed. Both parties should seek independent legal advice before signing. This template is for use in England and Wales only.