Industrial Premises Tenancies at Will and Licences
Listed below are a selection of Tenancy at Will and Licence Agreements for Industrial Premises.
Business premises are usually occupied under a lease. A lease is a formal arrangement whereby the Tenant has exclusive use of the premises for a specified term. Leases usually contain detailed provisions as to what a tenant must and must not do in order to protect the value of the Landlord’s reversionary interest in the premises.
Sometimes it is not appropriate to grant a lease. If the business is only going to occupy the premises for a short time (say, less than 6 months) or if the parties are in the process of negotiating a lease but the Tenant needs to occupy the premises immediately, the parties may wish to use a Tenancy at Will or a Licence.
A Tenancy at Will has no fixed term and can be terminated by either party at any time with immediate effect. It is therefore only suitable for very short term arrangements.