05 April 2017
Managing the risk of property disrepair in retail
Most retail units are occupied pursuant to a leasehold agreement, which usually requires the tenant to keep the property they rent in good repair.
If a tenant takes no steps to manage the risk of property disrepair and simply vacates the retail unit at the expiry of the lease, their landlord may pursue a "dilapidations" claim; this can prove very costly, as the landlord might seek many thousands of pounds in damages.
In an article published by Independent Retail News, Richard Robinson, Associate and dilapidations specialist at Shulmans LLP, explains the responsibilities and obligations of retailers to keep their leasehold property in good repair, and what business owners should do to mitigate the risk of a claim from their landlord.
For any further queries about the obligations of retail tenants, please contact Richard on 0113 297 3783 or at firstname.lastname@example.org.