What happens when a commercial lease expires?

17/07/2024

When a lease comes to an end, it is usual for the tenant to hand back the keys to the premises with vacant possession and in a “broom swept condition” – clearing all rubbish and belongings. The lease will probably state the level of condition to which the property is to be returned.

A lease may also require you to decorate the premises at the end of the term. Care should be taken if the lease allows the landlord to obtain a schedule of dilapidations when you have vacated the premises. A schedule of dilapidations sets out any items of disrepair together with a list of costings for these to be rectified.

17/07/2024
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