We have recently been working on a large number of commercial lettings for our farming clients. With diversification on the rise, one of the biggest growth sectors is in renting out buildings or other space on the farm to non-farming businesses and individuals. Be it offices, workshops, storage yards or just a single shipping container, it’s important to get the right agreement in place from the start to make sure you are protected.
Commercial tenancy law can be complicated and the key piece of legislation remains the 65-year-old Landlord and Tenant Act 1954! If the correct procedures aren’t followed, an unwitting landlord could end up with a protected tenant. The business tenant would then have very strong statutory rights meaning that they could be very difficult to remove, even after the end of any contractual term. This is simple to avoid if you know how, however there are certain procedures you must follow at the start.
A written agreement at the outset is always the sensible option and reduces the risk of confusion or dispute further down the line. What type of agreement will depend on the individual circumstances and we have a variety of templates to work from to suit each situation.
If you would like any assistance with your commercial property or advice on diversification, please do not hesitate to get in touch – 01684 325215 / 07814 033449 firstname.lastname@example.org