An agreement for lease is a key contractual leasehold document ahead of eventual completion of a new lease. It sets out the terms agreed by the parties, and great care must be taken to ensure your client’s interests are protected.
Whether you are a solicitor or other practitioner acting for the landlord or tenant, it is vital to understand the issues and potential challenges, particularly when working with precedent documents.
This is a particularly practical course taking you stage by stage through the key provisions in established precedents, such as leases conditional upon consents, and where the landlord is to carry out works on the property.
How should you amend precedents to reflect your client’s circumstances? What recent cases and practical developments should you be aware of? Our well known and experienced property expert, Hannah Mackinlay, will take you through the key issues associated with agreements for lease, including suggested amendments. You will also benefit from a practical checklist of key points to consider.
Key learning outcomes
- Understand agreements for lease and their purpose
- Effectively utilising precedent agreements depending on the parties’ agreed terms
- Potential challenges such as competition and tax issues
What does this course cover?
This course covers the fundamental basics of agreements for lease, and the potential issues you may come across in specific matters, including:
- When you need an agreement for lease
- Where completion of works by either party, or consent by a third party, is a condition
- Effect on commencement of the lease term, and rent-free periods
- Current standard commercial contract provisions and suggested amendments
- Authorised guarantee agreements (AGAs) and latest developments in this area
- Completion date
- Apportionments of rent, service charge and insurance
- VAT and capital allowances
- Insurance and risk issues
- Exclusion of security of tenure where there is an agreement for lease
- User restrictions, and anti-competitive restrictions under the Competition Act 1998
- Stamp duty land tax (SDLT) on substantial performance of agreements for lease: what happens when you complete the lease, and how to calculate the tax liability
- Protecting agreements for lease by registrations, and removal if contract does not complete
- Side letters and long stop dates