Are you interested to get your office building lease extended for the period of ten years? Do you think it is conveniently possible to have carry out lease extension? There are lots of things which needs to be consider before applying for lease extension of your office building.
Other party needs to evaluate a number of things which needs to be looked into during the process of lease extension. Things to be consider are mentioned below:
1. Is it legally possible to get lease extended for a time period
2. Do both parties agree on lease extension
3. Does the owner of the business thinks it’s quite feasible to have carry out the process of getting lease extended of the building and land and does he want purchase of freehold?
4. Do the owner wants to conduct business over on the same land and building for a long period of time?
These are the most important points to looked into while they are considering to get the lease extended over a period of time, since it’s a legal issue to tackle and it might take as long as one year to get the tasks done. Further, more both parties have to consult lawyers for the completion of the lease extension.