Partial Office Lease (In Line With RICS 2018, 2020)

This legal template refers to a Partial Office Lease agreement that adheres to the guidelines outlined by the Royal Institution of Chartered Surveyors (RICS) for the years 2018 and 2020. It is applicable under the jurisdiction of UK law.

The Partial Office Lease entails a legally binding contract between two parties, typically a landlord and a tenant, who wish to establish a lease agreement for a portion of office space within a commercial property. This could be useful in situations where the landlord owns a large office building and seeks to divide it into several units or where the tenant only requires a specific portion of the available office space.

The template provides a comprehensive framework for the lease agreement, including key provisions and obligations that both parties must adhere to. It covers essential aspects such as rent payment terms, lease duration, maintenance responsibilities, permitted use of the premises, renewal options, and any specific provisions dictated by the RICS guidelines of 2018 and 2020.

By aligning with RICS standards, this legal template ensures that both parties comply with industry best practices and maintains a fair and transparent lease agreement. It may incorporate recommended protocols for property valuation, lease duration, rent reviews, rent increases, tenant's alterations, dispute resolution mechanisms, and other pertinent considerations.

Overall, this Partial Office Lease template offers a comprehensive and legally compliant framework that protects the interests of both the landlord and tenant, fostering a clear understanding of their respective rights, obligations, and expectations throughout the tenancy period.