Property Occupier Lease Renewal
Is your lease coming to an end? Do you have a break option or want to re-negotiate your lease?
How we can help you
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 they originally took the lease. If the lease is outside “the Act” the tenant has no right to a new lease and it is imperative that the tenant addresses renewal while they still have enough time before expiry to move to new premises.
WHAT WE DO
If the lease is inside “the Act” the tenant usually has a right to a new lease at “a market rent” and the time pressure is off.
- The process is more valuation based, and we will look at what else is available in the market and use this to negotiate the best terms with the landlord
If a tenant receives a section 25 notice from the landlord it is imperative that early advice is sought
- We work to strict timescales that need to be adhered to otherwise the tenant will lose its right to a new lease
Disagreements usually revolve around the term of the new lease and the rent
- Resolving issues by mutual agreement is preferable and is usually achievable. However, if serious differences of opinion persist we will act as Expert Witness under “the Act” for attendance at a court hearing or alternatively in written report form for the more cost effective PACT (Professional Arbitration on Court Terms) procedure.
WHY ALLSOP?
- We persist with negotiations
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