The lease may also indicate the permitted uses of the property. A signing incentive is an incentive or concession granted to the tenant to enter into the lease, for example. B a free monthly rent. A shareholder`s personal guarantee is a promise by a shareholder (or shareholders) to personally reimburse the rent or damage that the tenant of the company owes under the lease agreement. While the basic concepts and terms of a commercial lease resemble a lease you may have signed for a dwelling, there are still differences between commercial leases and private rentals that you must respect. Residential rental agreements are often highly regulated with certain conditions that cannot be changed by law, even if both parties agree to waive these conditions. On the other hand, commercial leases have virtually no restrictions beyond the fundamental law of contracts. Assuming that the parties have not entered into a contract in the Landlord and Tenant Act 1954, each party must use a specific form to terminate or renew the lease. Landlords must use a form in accordance with section 25, while tenants must use a form in accordance with section 26.

If the landlord has already made a form under section 25, the tenant cannot use the form under section 26. If the tenant has already started with a section 26 form, the landlord cannot use the section 25 form. Although not very common, some leases contain clauses that purport to give landlords more rights than the law is due to them.