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Ask Ronan Your Own Question
Ronan, Solicitor
Category: Republic of Ireland Law
Satisfied Customers: 2244
Experience:  B. Corp Law, Ll.B. Dip Comm Prop. In general practice for more then 6 years
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Does the tenants rights change after a 5 year period in the

Resolved Question:

we are trying to lease a commercial property with an option to buy at the end of the lease period, what is the most favourable lease period and why?

Submitted: 5 years ago.
Category: Republic of Ireland Law
Expert:  Ronan replied 5 years ago.
Business tenants who are renting or leasing from commercial landlords are entitled to renew their new tenancy agreements if 'a business equity' has been established between the parties. Under the Landlord and Tenant (Amendment) Act 1980 (the 1980 Act), such tenants will acquire a business equity if they have continuously occupied the premises and carried on business there for five years.

If you are including an option to buy within the lease then it doesn't really matter what the period of the lease is. What you would need to consider is how long you will need before you expect to be in a position to exercise the option.

If you expect to able to exercise the option within 5 years then there is no problem. If it going to take longer then that to exercise the option you want it to be at least 5 years
Ronan and other Republic of Ireland Law Specialists are ready to help you
Customer: replied 5 years ago.
Hi Ronan, we are not doing business from this premesis first of all, and it has been vacant for two years, as I have said we are trying to negotiate a five year lease but today the landlord suggested a four year eleven month lease, why? I presume there must be a benificial reason for this, also even though we have been adament about the option to buy, at no stage have they referred to this ,why? they seem more concerned about the terms of the lease