Commercial Leasing Basics – The importance (and dangers) of Personal Guarantees

Often in entering into a new commercial lease, the landlord will insist that the tenant offer a separate personal guarantee, particularly where the tenant is a company or an individual with little to no assets. A personal guarantee is basically a legally enforceable personal promise made by an individual to the landlord guaranteeing the obligations [...]

2022-02-23T22:22:25+00:00February 23rd, 2022|Contracts, Property|Comments Off on Commercial Leasing Basics – The importance (and dangers) of Personal Guarantees
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Commercial Leasing Basics – Accurately describing and assessing the ‘Permitted Use’

The “permitted use” section in a lease describes how a tenant is allowed to use the premises during the lease term. The permitted use is often located in the ‘Schedule’ or ‘Particulars’ of the lease (usually at the back or front of the document) and is tied to provisions within the lease’s general terms. Those [...]

2022-01-23T03:10:22+00:00January 23rd, 2022|Uncategorized|Comments Off on Commercial Leasing Basics – Accurately describing and assessing the ‘Permitted Use’
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