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This area covers negotiating and documenting temporary relief from rent or other concessions within a commercial lease, such as rent-free periods, stepped rents, waivers, or deferrals. A solicitor practising in rent concessions drafts or amends lease terms, negotiates with the landlord or landlord’s solicitor, prepares side letters or deed of amendment, reviews financial covenants, and coordinates with surveyors and valuers. They may also advise on the impact on rent reviews, service charges, and options to terminate or alter covenants if the tenant’s business position changes.
Concessions hinge on the lease form, negotiation with the landlord, and any linked security or documentation. The solicitor handles the drafting of amendment documents, the mechanics of rent relief, and any prerequisites such as guarantors, landlord consent, or mortgagee approvals, ensuring enforceability and clarity of ongoing obligations.
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