Empty property is bad news for landlords. It costs money in maintenance and rates, as well as being a possible target for vandals and squatters. To maximise income from property, landlords may wish to seize opportunities for short-term lettings to fill gaps between long-term arrangements. But as Andrew Little, commercial property expert with Pearsons & Ward Solicitors in Malton explains, it is vital to get the paperwork right.
‘If a potential tenant wants to get into your property and start trading and paying rent immediately, you may be tempted to skip the formal paperwork, but this can lead to real problems as business tenants can quickly acquire the right to stay on, which could get in the way of your long-term plans for the property’ explains Andrew. ‘The good news is that your solicitor can very…