tenancy agreement

communications | tenancy agreement | rental & rates | floor plan

New and growing businesses need speedy 'easy-in, easy-out' access to accommodation. We aim to provide just that for potential Innovation Centre clients who have a technology related proposal that demonstrates the potential for global growth.

The following note on the Tenancy Agreement is intended as a way of explanation only.  It is not designed to have legal effect.

It is a simple fact of life that the very act of permitting a person to occupy business premises on payment of rent creates a legal obligation and, unless the documentation is clear, it is very easy for both Landlord and Tenant to find themselves in situations and with obligations that were not intended at the outset.  With this in mind Consett Innovation Centre has produced the simplest form of legal documentation which we can devise.  This gives protections and rights to both parties whilst setting out their obligations.  Before entering into this agreement you might wish to take legal advice on the obligations that you are undertaking.

The Tenancy Agreement we are offering is called a "Tenancy at Will".  This means that either you or we can bring the agreement to an end immediately on notice.  So, if you experience difficulties in operating your business or simply decide that you no longer wish to run your own business or remain in the Innovation Centre, you can end your Tenancy without giving a period of notice and without suffering a financial penalty by way of payment in lieu of notice.  You will, of course, be required to settle any outstanding financial obligations to us and to meet the costs of returning the premises to the condition they were in when you first occupied them

This type of agreement does allow us to end your Tenancy in the same way but, except in the most unusual circumstances, we will always give you three months’ notice.  Conversely, we would prefer you to give us as much notice as possible.

To achieve this "easy-in, easy-out" arrangement you will be asked to complete a Declaration before your Tenancy starts.  This will exclude the effect of relevant parts of the Landlord & Tenant Act 1954, Part 2, which otherwise create formalities and rights  normally associated with occupation of premises for business purposes  that would not be in the spirit of this lettings operation.  The exclusion of these matters will be recorded in the Tenancy agreement. If the tenancy is to start 14 days or less from when you are ready to sign the Declaration then you will have to sign it in front of a Solicitor. Of course we would be happy for you to take legal advice on all of the documents before you enter into a commitment.