Longridge: 01772 783314 | Garstang: 01995 602129 | Lancaster: 01524 581306 
 
Longridge: 01772 783 314 
Garstang: 01995 602 129 
Lancaster: 01524 581 306 

Rent payment dates and charges. 

Commercial property rent is usually payable quarterly in advance, the most common dates are: 
25 March 
24 June 
29 September 
25 December 
 
Other terms you should be aware of include: 
 
Base Rent – this is the minimum amount of rent payable. The amount of rent payable will be set out in the lease and will exclude percentage rents or any other additional operating costs. 
 
Percentage lease – you would normally see this term in a lease for a retail area or a lease of a premises within a shopping centre. Within these agreements the tenant will pay a fixed base rent along with a percentage of their gross income. Usually, such a percentage will be agreed upon in advance by the landlord. 
 
FRI Leases – FRI stands for Full Repairing and Insuring Lease. This means that all costs of maintenance, repair and insurance on the property must be paid by the tenant. 
 
Gross Rent Lease – this is a form of commercial lease where the Tenant is responsible for paying the base rent and specified expenses. While the Landlord is responsible for paying all expenses involving the operation and maintenance of the property such as the insurance and utilities. In some gross rent leases, the Landlord will also pay the property tax. 

Get in touch and talk to an expert property conveyancing solicitor today. 

MG Legal's expert property solicitors are experienced in dealing with all aspects of residential and commercial property sales, purchases and disputes. 

Why choose MG Legal? 

Our fees start from £250 
We offer fixed fees with no hidden extras 
All of our property team are qualified solicitors 
MG Legal are leading property experts 
You will deal with one person from instruction to completion 
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