PainSmith now offer a specialist “Rent to Rent” Commercial Lease for £350 plus VAT.
This lease is designed to meet the specific needs of landlords engaging in “Rent to Rent” arrangements including transfer of obligations for repair and upkeep of the property to the tenant.
The draft lease comes with additional guidance on completion of a statutory declaration to contract out of the security of tenure provisions under the Landlord and Tenant Act 1954. This prevents the tenant from having an automatic right to an extension of the tenancy.
Commercial leases are a more complex arrangement than a standard residential letting. Prospective landlords of a ‘rent to rent’ agreement should take additional advice if they are unsure of their rights and obligations under the agreement.
The lease is available for purchase through PainSmith’s document shop at the following link: https://painsmith.co.uk/product/commercial-lease-rent-to-rent-august-2024/
