Find out how to manage and minimise the leasehold property-related costs and commitments to which your business is exposed
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How an experienced part‑time Legal Director can help you manage your business’s leasehold property exposure
The premises from which your business operates represent a significant cost. And usually, a significant ongoing commitment in terms of rent, length of lease, and end-of-lease repair obligations.
It’s no exaggeration to say that the scale of these costs and commitments really do have the potential to bring a business down, in the event of adverse circumstances or mismanagement.
So for any business with property obligations and costs, making sure that those obligations are properly discharged—and costs minimised or avoided—is a sensible investment.
And that's where one of our part‑time Legal Directors can help you. With one of our part‑time Legal Directors working as part of your business, you’ll have highly experienced property expertise on hand whenever you need it, helping your business with leasehold property exposure going forward.
Below we summarise some of the ways in which we help you tomanage and minimise the leasehold property-related costs and commitments to which your business is exposed.
Common leasehold property pitfalls
Leasehold property such as shops, offices, factories, and industrial units is vital for businesses. But leasehold property also leaves a business open to significant costs and commitments.
Rent reviews, lease expiry costs, break clauses: all carry significant exposure in terms of cost, and risk.
And suppose that your business’s lease expired, and your landlord refused to renew it? Or that your business overlooked the need to renew the lease in the timescale specified, and the landlord then reassigned it to a third party?
Or that on the expiry of a lease, your business had to fund a significant refurbishment programme (so-called ‘dilapidations’)?
Or, potentially most damaging of all, suppose that the notification date for the exercise of a lease break clause had been forgotten, or mislaid—depriving your business of the opportunity to exercise the break clause?
Such examples aren’t theoretical. Here at The Legal Director, we have seen all of them—and worse. Including instances where the lease expiry had been completely overlooked, leaving businesses with no premises from which to trade.
How will The Legal Director work with you to minimise process and legal risks?
There has to be a better way for businesses to handle leasehold property exposure. And with one of our part‑time Legal Directors working alongside your senior management team, there is.
We go through your business’s entire leasehold property estate, property by property, locating the applicable contractual details and dates, digitising them, and transforming them into an organised set of information covering all of the applicable leasehold property-related costs, obligations, commitments, and risks.
The result: a single, easy-to-understand view of all your leasehold property-related exposure. Moreover, it’s an easy-to-understand view that comes with built-in scanned copies of all the relevant original documents.
What’s more, we back this up with calendarising the critical dates, making sure that your business has the opportunity to consider such issues as lease renewals and break dates in ample time—giving you the ability to make the right leasehold property decisions, in the right timescales, after considering all of the pertinent information.
How does The Legal Director's advice and approach differ from that of a traditional firm of solicitors/law firm?
As you can imagine, this is very different to the way that a traditional firm of solicitors or law firm is likely to work with you.
Firstly, a traditional firm of solicitors or law firm will typically operate at a distance, viewing leasehold property from the point of view of a one-off transaction, rather than helping you with your ongoing leasehold property exposure.
Secondly, our approach to leasehold property is to proactively help you to avoid leasehold property problems before they arise. Armed with a single, easy-to-understand view of all of your leasehold property-related exposure, you have all the facts, dates, and documents at your finger tips.
And by calendarising the critical dates, we make sure that your business has the opportunity to consider such issues as lease renewals and break dates in ample time—giving you the ability to make the right leasehold property decisions, in the right timescales, after considering all of the pertinent information.
The three key areas where one of our part‑time Legal Directors can help you manage your leasehold property exposure
- We provide you with a single, easy-to-understand view of all your leasehold property-related exposure, complete with scanned copies of all the relevant original documents.
- We calendarise all the critical dates in your leasehold property portfolio, giving you the ability to make the right leasehold property decisions, in the right timescales, after considering all of the pertinent information.
- We provide you with a 360-degree view of the real leasehold property exposure risks that your business faces—whether those are in terms of lease expiry, break dates, rent reviews, or unexpected lease expiry costs.
Then call 020 3053 8613 for further information and advice.