Property Owner Lease Renewal
Is your tenant's lease coming to an end?
Lease renewals fall into two categories depending on whether the tenant agreed to contract out of the Landlord and Tenant Act 1954 (the Act) when it originally took the lease. In either case if the tenant indicates that it may vacate the landlord should immediately consider the tactics around dilapidations (which may well be best negotiated before expiry) and how to mitigate rates liability after expiry. We can help with all of these.
WHAT WE DO
If you are a landlord that may wish to redevelop the premises then seek advice early, ideally more than a year before the end of the contractual term.
- Where a tenant wants a new lease we will negotiate the term of the new lease and the rent on your behalf.
- If the lease is outside “the Act” the tenant has no right to a new lease and the negotiation for a new lease focuses on what alternatives are available to the tenant.
- If the lease is inside “the Act” the tenant usually has a right to a new lease at “a market rent”, and the process is more similar to a rent review valuation.
- We will first negotiate on your behalf and if necessary act as Expert Witness under the Landlord & Tenant Act 1954 court procedures and prepare a written report for attendance at a court or the more cost effective PACT (Professional Arbitration on Court Terms) procedure.
WHY ALLSOP?
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This is our game and we know the rules, the tricks, levers and the escape options inside and out. We have decades of experience and must have encountered and debated every possible situation from both the landlord and the tenant’s perspective at least once and probably dozens of times. Use us if you want to feel sure that you are not missing a trick.
KEY CONTACTS
Working together - for all your permitted development needs
Our teams are uniquely collaborative and able to provide you advice from the commencement to the completion of your permitted development project, ensuring at every stage that value is maximised. Our residential and commercial expertise is utilised together to give accurate and impartial advice.
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