Yield Up Definition Lease

What is yield up.

Yield up definition lease. To access this resource sign up for a free trial of practical law. At the expiration of the lease term any extension thereof or earlier termination of this lease tenant shall remove subject to the provisions of section 5 4 all signs and trade fixtures and personal property and all moveable interior partitions installed by tenant and such other installations made by tenant as landlord may request or tenant may elect repair any damage caused by. A tenant is used to having to reinstate the premises at the end of a lease and removing all fixtures and fittings. If the disrepair is significant the landlord will lose rental income whilst remedial work is undertaken.

Some other key provisions. But does a tenant s covenant to yield up mean there are other things a tenant actually has to do. Yield up synonyms yield up pronunciation yield up translation english dictionary definition of yield up. Give up possession especially by the tenant at the end of a lease.

John laing construction ltd v amber pass ltd robert hildyard qc 7 april 2004 high court nearly every lease will contain a covenant on the part of the tenant to yield up the demised premises at the end of the term. The case of john laing construction limited v amber pass limited provides useful guidance on what constitutes yielding up. It is a key consideration in entering in to lease. Our commercial property solicitors are experts in advising on leases and on yielding up.

This practice note looks at the issues that need to be considered in relation to drafting and negotiating yield up clauses in leases. At the expiration or sooner determination of the term to yield up the premises in good and substantial repair and consistent with the full and due compliance by the tenant with its obligations under this lease and to remove such tenant s trade fixtures and fittings and any signs erected by or at the instance of the tenant making good any damage caused by such removal. When a lease of commercial property comes to an end the landlord can be left with a property in disrepair. Thinking about the process of leaving the premises and the state of repair of the building on leaving.

5 yielding up in the repair and condition required by the lease. Discover more about the step up lease here. An obligation to yield up means the process of leaving the premises and the state of repair of the building upon leaving. Meaning of good condition.

Step up lease definition a step up lease is a lease agreement that includes set price increases at specific times throughout the lease.