GEB Small Business Lease

At GEB, we use this lease for the majority of our property lets. It has been developed over many years to give our small business clients a clear understanding of their tenancy and the flexibility that they sometimes need if they wish to move into a larger (or even a smaller) unit – or move away altogether.

This is in contrast to the leases issued by most landlords which can bring costs and liabilities to tenants many years after they want to be released from them. The following terms can vary slightly from property to property:

• The length of lease is by agreement; most tenants choose a four year term which is usually renewable at its end.
• The lease is exempted from the Landlord and Tenant Act
• Often after only 6 months in occupation, tenants have the right to break the lease and leave upon giving one month’s notice.
• The lease states a simple monthly fee which covers rent and service charges (many of which are ‘extras’ with other landlords). Services generally include:
  - Buildings insurance
  - Repairs and cleaning to the exterior and any area shared with other tenants (e.g. corridors or car parks)
  - Removal of kitchen waste and office paper waste
  - Water supply for the kitchens and toilets.
• Legal fees: A contribution of £500+ VAT is payable by the tenant towards our solicitors costs (this is the first stage in the process of taking a unit).