Why Every Business Should Know About Commercial Property Solicitors

Here is why every business should know about commercial property solicitors. No matter 
the scale of your business or the length of your commercial contract, we’d always advise 
seeking advice from a solicitor for all matters concerning commercial real estate. 

If you’ve never sought legal advice before or deciding whether it is a worthwhile 
investment, we hope this blog proves why every business should know about commercial 
property solicitors. 


What Does A Commercial Property Solicitor Do?

Commercial real estate translates to any property that houses business activities. Gyms, 
restaurants, office buildings, retail stores, and supermarkets are all everyday examples of commercial property. 
 
The laws applied to commercial real estate differ from the laws you may be familiar with for residential property. The law is tailored to the needs of commercial tenants and landlords, ensuring that acquisition, ownership, use, development, and case are governed fairly. 
 
A commercial property solicitor can fulfil and oversee different areas of commercial property law, representing either the tenant or landlord. This may include buying & selling commercial property, property litigation, tenancy agreements, and review of leases. 
 
For a business entering a commercial tenancy, solicitors will act as a trusted advisor. Appointed solicitors ensure the business is compliant throughout the process and aware of all relevant regulations and restrictions throughout the transaction. 
 
Some of the key responsibilities of a commercial property solicitor include: 
 
– Drafting and reviewing tenancy agreements in an effort to achieve favourable terms 
for the client. 
– Overseeing property purchases and sales, identifying any hidden costs and making 
their client aware, so they maintain financial stability. 
– Manage lease agreements and renewals, mitigate any disruptions, and ensure 
seamless daily operations for the business. 

Image of skyscrapers used as office buildings for the blog Why Every Business Should Know About Commercial Property Solicitor

 
Why Every Business Needs a Commercial Property Solicitor 

No matter if you’re an SME, and this is your first time entering a commercial property agreement, or you’re a big organisation that is acquiring a new branch or has been comfortably in your commercial lease agreement for some time… Here’s why every business should know about commercial property solicitors. 


1. Legal Expertise

The framework of commercial property law is very intricate, making it difficult for someone who doesn’t know it in and out to navigate. Hiring a commercial property solicitor gives a business a professional set of eyes, who can oversee every legal interaction with a fine-tooth comb. This will illuminate any grey areas that are tricky to comprehend and help to minimise potential risks. 
 
Insight from a commercial property solicitor will ensure you comply with UK laws pertaining to planning regulations, environmental obligations, and building management. Should disputes with a commercial landlord arise, your solicitor can help this come to a swift resolution that is mutually beneficial.


2. Risk Mitigation  

Acquiring commercial property without legal counsel is a massive gamble. Skipping over even the most minuscule detail can lead to huge, costly consequences. A commercial property solicitor will be sure to do their due diligence and identify any relevant regulations and restrictions attached to your property. 


3. Contract Negotiation  

Sometimes, negotiating contracts with a commercial landlord can be tough. Their terms may not be favourable to your business, leading to increased responsibility and costs at your end. Without legal expertise, it can be difficult to negotiate better terms in your commercial tenancy contract. 
A commercial property solicitor has the skillset and knowledge to safeguard your position in a tenancy agreement. They will be able to identify unfavourable clauses for your business and negotiate fairer terms on your behalf. This also includes ensuring complete clarity on terms of agreement and liability. 


4. Streamlining Transactions 

There are numerous independent parties that lend their hand to commercial real estate, surveyors, lenders, and so on. A commercial property solicitor will step in and facilitate all transactions. With their involvement, all transactions are guaranteed to proceed smoothly. 

Chasing third parties can be time consuming for a business. Commercial property solicitors allow businesses to focus on their day-to-day operations, while assuring the rest is taken care of. 

Image of the inside of a shopping mall for the blog Why Every Business Should Know About Commercial Property Solicitor

 
Key Areas Where Commercial Property Solicitors Provide Value 

Signing a lease agreement on a commercial property is a huge commitment for a business. Tenancies in commercial real estate tend to be significantly longer than in residential real estate. The terms of a commercial lease agreement can also have long-term implications for a business, so they must enter any contracts with a comprehensive understanding of their liabilities and restrictions. 

There are also plenty of investment opportunities that can come from commercial real estate, such as development projects. Commercial property solicitors can keep an eye on the real estate market, identifying both potential pitfalls and opportunities. 

When it is time to exit a commercial tenancy agreement, a solicitor can assist with selling the property. Again, this is a complex process, which can lead to a myriad of legal issues if not overseen carefully. 

 
 
Why Every Business Should Know About Commercial Property Solicitors From Blacks Legal 

Now you understand why every business should know about commercial property solicitors, here’s why you should choose to work with Blacks Legal. 

Our highly professional team of commercial property solicitors are dedicated to finding legal solutions for all our clients, in every case. With 30 years of experience behind us, we are confident in our rounded knowledge of commercial real estate and our ability to deliver quality legal counsel. You can find out more about us here. 
 
Whatever stage you’re at in your commercial lease, should you require expert advice, we’d be happy to help. Contact us today by filling out our online form or drop us a line at 020 3835 3802. 

Questions To Ask A Commercial Property Solicitor Before Hiring 

A commercial property solicitor is a legal professional specialising in commercial property law. Their role is to offer legal advice and support to their clients and to protect their interests. 

If you need help navigating the complexities of commercial property law, here are the most important questions to ask a commercial property solicitor before hiring. 

Why Might I Need A Commercial Property Solicitor? 

Commercial property solicitors handle anything relating to the sale, purchase, lease, use or development of commercial property. 

A commercial property is any non-residential property. This includes: 

This means that commercial property solicitors work with anyone who has an interest in commercial property. This might be investors, property owners, tenants, businesses, developers and those working in the public sector. 

As such, a commercial property solicitor can assist with a wide range of legal matters. For example: 

Image of a shopping mall for the blog Questions To Ask A Commercial Property Solicitor Before Hiring

Questions To Ask A Commercial Property Solicitor 

If you’re looking to hire a commercial property solicitor, you’ll want to be certain that they can meet your needs and get you the best possible result. But how do you know if a solicitor is right for you? 

Here are some things you should consider when choosing a commercial property solicitor and questions to ask before hiring them. 

What Is Their Experience and Expertise 

Before hiring a commercial property solicitor you should check that they’re registered with the Solicitors Regulation Authority (SRA) and that their firm is regulated by the SRA. This ensures that they are fully qualified, ethical and held accountable for their practice. 

You should also ask what kind of experience and expertise they have in their field. 

Commercial property solicitors are always going to be best equipped to deal with legal matters relating to commercial property but you should find out if the solicitor has relevant experience and expertise in handling the specific matter you need assistance with. For example, if you need help dealing with a tenancy dispute or advice on a planning application, you want to know that they’re equipped to handle your case. 

What Are Their Fees? 

All solicitors charge fees but these can vary considerably depending on multiple factors, including the legal field they’re working in, the complexity of the case, the solicitor’s experience and expertise and geographical area. 

Things you might want to consider include: 

What Results Can You Expect? 

When hiring a commercial property solicitor, you want to know what kind of results you can expect. Don’t be afraid to ask about previous cases, expected timelines and how similar cases were handled or resolved. What work will your solicitor be undertaking on your behalf and what outcome do they anticipate? 

Do They Come Recommended? 

Ideally, you want a solicitor who comes recommended. This might be through word-of-mouth recommendations from family, friends and colleagues or you could check out online reviews or testimonials from previous or current clients. 

Where Are They Based? 

It isn’t always essential to hire a commercial property solicitor based in your local area as commercial property solicitors can work on behalf of clients both nationally and internationally. 

However, some people prefer to meet with their solicitor in person or know that they have a base nearby. If you want to work with a local solicitor, you’ll need to check that the commercial property solicitor covers your geographical area. 

For example, here at Blacks Legal, we work with people all across the country, but as we’re based in London, we find many of our clients are located within London and the Home Counties. 

Image of a business quarter of office buildings for the blog Questions To Ask A Commercial Property Solicitor Before Hiring

Questions To Ask A Commercial Property Solicitor Before Hiring Blacks Legal 

There are significant benefits to having an experienced commercial property solicitor on your side when navigating the complex field of commercial property law. Likewise, understanding what questions to ask a commercial property solicitor before hiring can help you find the right professional to meet your needs. 

Blacks Legal’s team of specialist commercial property solicitors offers a wide range of services and expertise. Whether you’re buying, selling or leasing commercial property, here at Blacks Legal we have the legal knowledge and experience needed to protect your interests. 

If you’re looking to hire a commercial property solicitor or are in need of legal advice, please don’t hesitate to contact us today. 

How Commercial Property Solicitors Mitigate Risk For Tenants

Determining how commercial property solicitors mitigate risk for tenants goes to show how valuable they are for businesses. By overseeing every step of the process, from early negotiations to exit strategies, they ensure security, fairness and profitability. Continue reading for more details on how commercial property solicitors support their clients.  

What Are Commercial Property Solicitors? 

Commercial property solicitors are integral to acquiring commercial property for your business. Any property purchased to generate revenue is commercial, such as an office building, gym, restaurant, store, etc. The legislation differs from residential property to property used for business purposes.  

Solicitors in this field specialise in commercial property legislation, offering businesses a wealth of expertise. The majority of their transactional duties are concerned with protecting your business interests.  

The competitive nature and stringent legislation applied to commercial real estate means there are many pitfalls and risks throughout the process. A commercial property solicitor will oversee the process from start to finish, to ensure you get the most out of your agreement. Some of these responsibilities include; 

  • Reviewing property transactions 
  • Proofing contracts and agreements 
  • Due diligence on every transaction 
  • Structuring investments for their clients 
  • Landlord/ tenant dispute resolution  
  • Identifying development opportunities  

Almost any property can be classified as commercial property if it is used for business purposes. We say almost, as of course (thanks to COVID), homeworking is much more of a thing now than it ever was 5 years ago. Any legal issues that impact commercial properties require the assistance of commercial property solicitors. Here is how commercial property solicitors mitigate risk for tenants. 

How Commercial Property Solicitors Mitigate Risk For Tenants 

Potentially the main priority for commercial property solicitors is to mitigate risk throughout the transaction process. Considering they oversee every facet of commercial property law, there are many ways in which they mitigate risks.  

Image of a commercial property building for the blog How Commercial Property Solicitors Mitigate Risk For Tenants

Negotiating, Drafting & Reviewing Lease Agreements 

Commercial property solicitors will negotiate fair terms for the lease agreement on your behalf, and where possible, achieve favourable terms for your business. Factors that may be negotiated include lease duration, renewal options, rent price, bills, and break clauses. 

They will also ensure the lease agreement is clear and clarify any grey areas that could cause complications or disputes down the line.   

Once the terms are agreed, they will draft the agreement, including custom clauses to protect your interests, such as caps on rent increases, maintenance responsibilities and conditions for eviction.  

Read our blog What Does A Commercial Lease Agreement Need To Include? here. 

Due Diligence 

To ensure the property meets the standard suitable for business activities, commercial property solicitors will conduct thorough due diligence checks. They will try to ascertain the property’s condition via a review of all of the documentation provided and request relevant documentation required by health & safety regulations, and building codes.  

Managing Liability  

In the drafting of a lease agreement, solicitors will help determine who is liable for specific repair and maintenance duties, the landlord or the tenant. The goal is to limit the liability of the tenant generally for repairs and decoration subject to landlord approval.   

Commercial property solicitors will also ensure any relevant insurance is in place, so their client is covered in case damages occur.  

Dispute Resolution 

At any point, disputes may arise between the tenant and the commercial landlord. A commercial property will ensure good communication and clarity between both parties, to help prevent disputes.  

If it comes to a head, and they must intervene, they will offer legal representation for their client. By mediating and handling conflicts proactively, they ensure a fair and swift resolution.  

Legal Compliance  

Legislation is constantly under review. Commercial property solicitors will apply their knowledge and expertise to ensure their clients are up to date with the latest legal standards. 

At this point, it is worth noting that commercial property solicitors help mitigate risk for business tenants throughout the lease, not just the acquisition process. They will regularly conduct risk assessments and provide relevant legal advice, to guarantee regulatory compliance.  

Exit Strategies  

The commercial climate is currently very difficult to gauge. Let’s not forget, that some businesses are still dealing with the ramifications of closing for nearly two years due to the pandemic.  

If it comes down to it, having an exit strategy in place could prevent a significant loss of earnings. It is always good to have a clear way out, just in case you ever need it. Commercial property solicitors will negotiate break clauses in the lease agreement, giving the tenant an opportunity to exit the lease (without significant penalties) should they need to. 

Commercial property solicitors will also advise on opportunities to sublease the property and assignment. This could be an exit solution with little financial impact.  

Image of a man stood outside of a commercial property for the blog How Commercial Property Solicitors Mitigate Risk For Tenants

How Blacks Legal Commercial Property Solicitors Mitigate Risk For Tenants 

We hope this blog has clearly answered how commercial property solicitors mitigate risk for tenants. It goes without saying that as far as business assets are concerned, commercial property solicitors are indispensable.  

To get the best out of your legal team, you must find devoted commercial property solicitors who are invested in your mutual success. You can find solicitors like that at Blacks Legal.  

Our commercial property solicitors apply their rounded knowledge of commercial law to assist clients with buying and selling commercial property, planning permission, property litigation, lease management, and commercial property tenancy agreements. 

We’re happy to provide our expert advice on whatever your query may be. Our blog is full of useful tools for commercial landlords and tenants.  

If you have any further questions or would like to enquire about our services, please contact us.