What does “good” look like for tenants?

Put simply, “good” for a tenant manifests itself as:

  1. a good conditioned, regularly serviced and maintained building with high specification interiors, up to date eco-friendly and efficient systems
  2. that is actively managed by the landlord (or it agent)
  3. paying open market rent,
  4. subject to watertight (tenant friendly) lease terms.

Lease terms that are deemed attractive to a tenant will look something a bit like this:-

  1. A term of 5 years
  2. A fixed open market rent for the lease period or, alternatively, an open market rent with either fixed increases or rent reviews which are no more frequent than every 5 years
  3. A repair clause that amounts to a “limited repairing obligation by reference to a photographic schedule of condition”
  4. A service charge that is fair, reasonable and capped.
  5. A tenant break clause halfway though the term
  6. A rent free period or rent concession as consideration for entering into a new lease.
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