- We review all relevant documentation including the Lease, Superior Lease (where the you're not the freeholder), any Licences, Deeds of Variation, side agreements and previous rent review memoranda.
- Inspect and measure the premises demised by the Lease.
- Report any items of disrepair or breach of covenants.
- Carry out detailed research into comparable evidence of recent transactions such as open-market lettings, other rent reviews, arbitration awards, and so on.
- Provide a Report on rental value and proposed lease terms, together with an assessment of the likely outcome and recommendations for the strategy to achieve the optimum result.
- If the Landlord And Tenant Act 1954 applies, and depending upon your plans, we instruct your solicitors to serve a Section 25 Notice proposing new lease terms, or opposing a renewal. Or, if the tenant has already served a Section 26 Request, we instruct solicitors on the appropriate response.
- If the renewal is unopposed, and the tenant wants to stay, we negotiate with them to agree an appropriate rent and lease terms.
- Agree heads of terms and instruct and liaise with your solicitors on the drafting of the renewal Lease.
- In the unlikely event that it is not possible to agree terms, we advise on the options and tactics if the matter proceeds to Court.
Landlords: Our typical lease renewal service
February 4, 2015