At Kevin O’Donovan Solicitors we support clients with their residential and commercial leases for properties across Bantry and West Cork
We deal with:
• Residential Letting Agreements
• Commercial Leases
• Landlord & Tenant Advice
• Commercial Leases
Commercial Leases are effectively investments in non residential properties. A Landlord and a Tenant can agree on the terms and conditions that the Lease is to be subject to and when the parties sign a lease, this gives effect to the terms and conditions therein and binds both them and their successors. Once the main terms such as the rent, the length of the Lease and fit-out have been agreed between a Landlord and a Tenant, it will then be up to the solicitor for the Landlord to prepare and issue the proposed Commercial Lease and for the solicitor acting on behalf of the Tenant to peruse same and to add, delete or re-draft conditions in the Lease as is necessary so as to protect the Tenant’s interests in their lease of the property.
The contents of a Lease will vary depending upon whether a commercial property is a stand-alone property or is part of a larger building with shared services. Further, where the commercial premises is still in the course of construction or where a Tenant proposes to carry out fit-out works, what is called an “Agreement for Lease” will be entered into where the parties thereto agree to execute a Lease in an agreed form once the works have been completed. The period of the Lease will obviously vary depending upon the particular circumstances but in the case of longer Leases which will typically be for a term of twenty or twenty-five years, these will contain a full repair and insuring obligation on the Tenant so that the Tenant will be responsible for ensuring that the premises is kept or put in good repair and will also be responsible for paying the insurance premium by way of reimbursement to the Landlord.
Therefore, in the case of a Commercial Lease, each Lease needs to be investigated in light of the individual circumstances and poorly drafted Leases or Leases which do not contain the required clauses can often leave both a Landlord and a Tenant open to unnecessary risks which can lead to that party suffering loss and damage as a result thereof. We provide full advice in respect of Commercial Leases so that the final Lease entered into by our client whether as Landlord or Tenant will adequately cater for their needs in the circumstances.
Residential Letting Agreements govern the letting of apartments, flats and dwellings in Ireland. The 2004 Residential Tenancies Act establishes the broad legislative framework for residential lettings although there are a number of pre-existing measures which continue in force and operate in parallel with the provisions in the Residential Tenancies Act, 2004.
The 2004 Act did however introduce a number of measures which protected the security of tenure for Tenants, the main provision of which is that where a Tenant completes a six month continuous occupation of a residential property, the Tenant qualifies for statutory protection and will be entitled to seek a further lease to remain in possession of the residential property for a further three and a half year period.
Therefore, a Landlord if they want to avoid creating this statutory protection for their Tenant must serve a valid Notice of Termination before the expiry of this initial six month period. Once the Tenant qualifies for the statutory protection under the Act, the Landlord may only seek to recover possession of their residential property in specific circumstances such as where the Landlord intends to sell the residential property in the next three month period or when the Landlord requires the residential property for their own or a family members occupation.
The 2004 Act also introduced a dispute resolution mechanism whereby disputes between Landlords and Tenants are referred to the Private Residential Tenancies Board set up under the Act and which adjudicates on issues such as deposit refunds, termination of tenancies, rent arrears and complaints by neighbours regarding Tenant behaviour. The 2004 Act also imposed an obligation on Landlords to register each new tenancy with the Private Residential Tenancies Board.
Obviously, the letting of a residential property by a Landlord or the taking of a letting by a Tenant can be a significant decision on their part and we have long experience in advising both Landlords and Tenants as to their rights and obligations in respect of residential lettings and can advise, prepare and complete Residential Letting Agreements which cater for and protects both Landlords and Tenants in respect of same.
Contact us at Kevin O’Donovan Solicitors for support with all kinds of commercial and residential leases.