Advanced Commercial Property: Leases - Legal Practice Specialism

Course Structure

• 1. Introduction to Leases

  This course introduces you to the negotiation process for producing heads of terms. You'll explore the factors that influence the parties' attitudes towards different clauses in the lease and learn important drafting points for the initial sections of a commercial property lease.

  By the end of this course, you'll be able to:

  Discuss the factors which influence the negotiation of the heads of terms

  Recall basic principles which should be followed when amending a draft commercial lease

  Apply and explain some of the amendments a tenant’s solicitor might make to the initial clauses in a commercial lease

  Understand the importance of the definitions clause in a commercial lease

• 2. Rent Review and Break Clauses

  This course delves into the intricacies of rent review provisions in a lease and introduces you to the concept of the 'hypothetical lease.' You'll learn how to amend assumptions and disregards clauses and understand the features and negotiation of break clauses.

  By the end of this course, you'll be able to:

  Understand the features of a rent review clause and recognise its importance to both parties

  Explain the mechanics of rent review, from the assumptions and disregards clauses to the practical steps the parties must take

  Apply this knowledge to analyse and amend a rent review clause

  Recognise the features of a break clause and the effect of the Code of Leasing Business Premises on its negotiation

• 3. Repair and Insurance

  This course provides an introduction to drafting repair and insurance clauses in a commercial lease. You'll consider each party's perspective, focusing on the amendments a tenant's solicitor might make to the landlord's first draft. You'll also explore the interplay between repair and insurance provisions and touch on service charge and decoration issues.

  By the end of this course, you'll be able to:

  Understand the issues surrounding repair in a commercial lease

  Identify amendments that a tenant's solicitor might want to make to repair and decorating clauses

  Appreciate the interaction and overlap between the insurance and repair clauses

• 4. Lease of Part and Service Charge

  This course covers the additional complexities that arise when a tenant leases part of a building or estate. You'll review important drafting issues, consider definitions carefully, and examine service charge provisions in detail.

  By the end of this course, you'll be able to:

  Understand the definitions, rights and reservations which are required in a lease of part

  Advise on the calculation of service charge and the process by which it is collected and later balanced

  Negotiate a service charge provision in a commercial lease

• 5. Assignment

  This course introduces you to the issues surrounding a tenant's assignment of a commercial lease to a third party. You'll review relevant statute and case law, draft assignment clauses, and understand the purpose of a licence to assign.

  By the end of this course, you'll be able to:

  Understand the statute and case law relevant to alienation, and more specifically, assignment

  Draft and negotiate an assignment provision in a commercial lease

  Advise a client on the contents and relevance of a licence to assign

• 6. Underletting

  This course covers the underletting of commercial property, including relevant statute and case law. You'll learn how to negotiate underletting covenants and draft licences to underlet.

  By the end of this course, you'll be able to:

  Understand the legislation and case law surrounding underletting and the potential issues surrounding the process

  Negotiate an underletting provision in a lease, acting for either the landlord or a tenant

  Advise a client on the contents and issues regarding a licence to underlet

• 7. Use and Alteration

  This course introduces you to the legislation and case law underpinning use and alteration covenants in leases. You'll learn how to draft and amend these clauses and understand the purpose of relevant landlord's licences.

  By the end of this course, you'll be able to:

  Understand the statute and case law surrounding an alteration covenant and a user covenant in a commercial lease

  Advise a client on the drafting and amendment of an alteration and user covenant

  Draft a licence to underlet or alter, and advise a client on the importance of the provisions in these documents

• 8. Tax

  This course provides an introduction to tax for property lawyers dealing with commercial property letting. You'll cover VAT basics, draft VAT provisions in leases, and understand the implications of inducements and surrenders.

  By the end of this course, you'll be able to:

  Understand the principles and practicalities of the payment of VAT

  Advise a client on the VAT payable in relation to the grant of a lease, the payment of an inducement and the surrender by either party

  Explain the payment of SDLT or LTT in relation to the grant or assignment of a lease

• 9. Remedies

  This course covers the remedies available to landlords and tenants when a covenant is breached. You'll focus on the intricacies of forfeiture and understand the impact of insolvency on the availability of remedies.

  By the end of this course, you'll be able to:

  Advise a tenant of its options against a landlord and a landlord of its options against a tenant in the event of a breach of covenant

  Understand the different forms of forfeiture and the circumstances where a s.146 notice is required as well as the effects of the Leasehold Property (Repairs) Act 1938

  Explain the effects of insolvency on the availability of different remedies

• 10. Termination and Surrender

  This course covers the different ways leases end, focusing on notices served to end a secured tenancy. You'll also explore the issues surrounding lease surrender and draft agreements for surrender.

  By the end of this course, you'll be able to:

  Advise a landlord or tenant client on the termination of a secured tenancy through the service of statutory notices and requests

  Understand the practical and legal issues surrounding the process of surrender

  Advise a client on the drafting and contents of an agreement to surrender

• Certification

  Upon completion of the course, you will be awarded a digital certification.
  
  To earn your certificate for this course, you need to successfully complete the assessment with a score of 80% or higher. Once you pass the assessment and the invigilation check, you'll receive your digital certificate the following month. Your certification will be sent directly to your registered email address.