Yes, “outgoing” in the sense of additional tenancy costs (not me after 3 negronis!). The term “outgoings” in a commercial lease generally refers to additional expenses relating to the property that the tenant must pay in addition to the rent. These typically include (but aren’t limited to): rates, levies and assessments imposed by any local [...]
An integral aspect of commercial leases is the configuration of ‘rent reviews’ according to which rent is adjusted and agreed intervals during the lease term. These intervals are the agreed review dates. The rental payable by the tenant after each scheduled review date is adjusted in accordance with an agreed formula that is set out [...]
As commercial lawyers, we are asked to review a variety of commercial property leases on behalf of tenants and, just as often, asked to prepare them on behalf of landlords. A common initial question among many tenant clients is: do I really need you to review this first? Of course, you’d expect the lawyer’s answer [...]
