End of lease
If you’re the retail tenant:
It’s important that you start to think about your future well before your lease is up. Not only will it put you in a much stronger negotiating position, it also means you’ll be better prepared to relocate if you can’t come to an agreement for a new lease.
Six months before your lease ends, the landlord needs to write and advise you whether they plan to offer you a new lease or not. If you haven’t received this written notification, write and ask for it before the lease ends. This will give you up to six more months on the lease from the time you receive the notice. If the six months extends past the date your lease was due to expire, you can terminate the extension period with one month’s written notice.
NOTE: most leases revert to a month-to-month tenancy at the end of the lease which means the parties must give each other one month’s notice to change the deal.
Tenants usually have to return the shop to the condition it was in when the lease started. This is called the “make good” obligation, which generally includes things such as repainting, removal of fixtures and fittings, and repair of damage. The tenant usually bears the costs of “making good” the premises.
If you’re the retail landlord:
Six months before the lease ends, you are required to write to the tenant and advise them of whether you intend to offer a new lease or not.