| As with all lease events, timing is critical. Nowhere
is this more true than in the handling of break clauses.
All leases are different and each will treat the
notices required for serving a break differently.
Whether landlord or tenant, break notices can provide
enhanced lease flexibility but can be made worthless
without careful planning and a proper interpretation
of the legalities of the lease and its obligations.
Whilst some break requirements are relatively straight
forward, others require more onerous obligations which
often have severe time implications, like ensuring
repair obligations are up to date. It is essential
to have a full appreciation of the required timings
associated with a break and a clear business rationale
underpinning all action. |