The Rights and Responsibilities of Commercial Tenants
Retail business owners often feel overwhelmed by the complexities presented by commercial property leases and the management of their rights and responsibilities. Here at LeaseWise Group, we understand your trepidation, and as specialist retail property consultants and tenancy advocates, we are here to help.
In this blog post, we will help you understand the rights and responsibilities of your commercial lease.
Tenant Obligations
Once you sign your retail property lease and become a tenant, you have certain obligations. For example:
Rent Payments
- Always pay your rent on time. Follow the rent payment schedule as outlined in your lease and pay according to the agreed payment methods.
- Should you anticipate a delay in your payment, contact your landlord immediately. They will appreciate open lines of communication and the fact that you have been proactive in notifying them of your situation.
- Keep records of all payments, issues and communications with your landlord.
Property Maintenance
- Take a walk around your leased property regularly. Depending on who is responsible, either do minor repairs or report issues to your landlord immediately.
- Keep your leased space neat, tidy and clean.
- Comply with all building regulations and safety standards, including fire safety measures and accessibility requirements.
- Take care of the property in a manner that preserves its value for both you and your landlord. This demonstrates your respect for the property and helps maintain good relations with your landlord.
Lease Compliance
- Make sure you are familiar with the contents of your lease agreement. Understanding all the terms and conditions, including things like business hours, signage restrictions and use restrictions, will help you keep on the right side of your landlord.
- Take care to operate your business within the parameters of your lease to avoid a breach of contract situation.
- If you are unsure about any aspects of your lease, be sure to consult with your landlord or a commercial property management specialist.
Tenant Rights
- The right to “quiet enjoyment” means you can go about your business without interference from your landlord or other tenants.
- The right to a safe and secure property with access to essential services like electricity and water.
- The right to be treated fairly and without discrimination by your landlord.
Contact LeaseWise today for specialist retail property management advice, finding new premises, negotiating lease renewals and modifications and settling commercial disputes. We are the commercial property management experts you can trust.