Whether you are a Landlord or Tenant, you will want to secure your position at the end of a Lease. If you want to renew the lease, you will want to ensure that the terms meet your requirements and leave you or your business protected. If you want the lease to end, you will want to ensure that it is terminated properly and that occupation is brought to an end as painlessly and. In these circumstances, it is vital that you seek legal advice.
We advise both Landlords and Tenants on Lease Termination or renewal, and offer a bespoke service tailored to your individual needs. We liaise closely with surveyors and agents to ensure that the process is as smooth as possible. If an agreement cannot be reached, we will take steps to protect your position with appropriate court action.
The Landlord and Tenant Act 1954 gives business tenants the right to renew a tenancy when it comes to an end. There are a number of common issues that arise.
- If both the landlord and tenant agree that there should be a new tenancy, they will need to agree the terms. If there is no agreement, either party might seek a resolution by serving a Notice to court.
- Landlords can apply to the court for lease renewal if the tenant is happy to remain, where there are changes to be made to the lease such as an increase in rent.
- Landlords can oppose the renewal of the tenancy. They can also apply to the court to end the tenancy or oppose the renewal.
Correct procedures must be followed in order to appease the Court or to avoid costly procedures. Timing is critical and we advise all clients to begin the planning process at least 12 months before the tenancy end date. Missing a deadline can mean missing the opportunity to protect yourself.
Contact our Commercial Litigation department today to find out more about how we can help you.Contact us