For a valid Lease to exist in the eyes of the Law, it must contain a number of terms that are considered “Essential”. If these clauses are missing, invalid or void, the Lease cannot exist and therefore the parties can’t rely on it in court in the event of a dispute.
Our Leases certainly contain all of the “Essential Terms” and we have deliberately structured our documents to bring these terms to the front of the document (the Schedule) so as to remove any doubt.
Another thing to consider is that all the “Essential Terms” must be completely agreed by all the parties at the time of entering into the Lease. In other words, you can’t have a situation where an “Essential Term” such as a future Rent is “to be agreed by the parties at a future date”. This would mean that there actually is no Lease, even though the parties think one exists.
At The Lease Bureau, we would never allow this situation to arise as we will always come back to you if we receive instructions such as the example above which could jeopardise the validity of a Lease.
As always, if you have any questions, please feel free to give us a call.
Regards
Steve Evans