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Tag Archives: Leases

Lease, Licence or Tenancy at Will?

The three most common ways for an owner to formalise the occupation of a property by a third party are by lease, licence or tenancy at will. It is important that owners choose the most appropriate method for their own and their occupier’s purposes. Lease A lease is a legal contract in which the owner (the landlord) gives the occupier (the tenant) the right to occupy the property exclusively for …Read More

Act before you’ve only 80 years left on your flat lease

Anyone who owns a leasehold flat with approaching 80 years left to run on the lease should act quickly to extend if they want to avoid unnecessary additional costs, according to Helen Murphy, Head of Residential Conveyancing. “The law states that a qualifying leaseholder can be granted a new lease for an additional 90 years from the expiry of their current lease,” explains Helen. “Additionally they are entitled to have …Read More

Responsibility for goods remaining on premises after former occupier’s departure

When premises are let, there is often a written agreement that obliges the tenant to remove their goods at the end of the lease.  It may also say what action a landlord can take with regard to any remaining goods. In the absence of a written agreement, the landlord becomes custodian (bailee) of the former tenant’s goods left on the premises.  Where the tenant is insolvent, the liquidator or administrator …Read More

Getting money back when breaking a commercial lease

Break clauses are commonly subject to conditions. Tenants must comply fully with these conditions in order to ensure that the break clause in the lease operates effectively. Failure to do so could mean that the tenancy continues. This specifically includes the payment of all rent which falls due under a commercial lease. Accidental breach of break clauses Commonly, tenants have found themselves in breach of the condition regarding full payment …Read More

Re-gearing commercial leases – the options

The vagaries of the economy have forced many tenants to revisit their leases in order to limit their financial exposure.  At the same time, since the letting market has become so flat, landlords would rather not see their existing tenants fail and their properties become vacant. It has therefore become commonplace for landlords and tenants to renegotiate the commercial terms of their leases in order to improve or consolidate their …Read More

Putting the brake on break clauses in commercial leases

As companies look for ways to save money, disposing of premises that are surplus to requirements is high on the agenda.  On the other side of the coin, landlords don’t want to suffer another void in this climate especially given the current draconian empty rates regime. The net result is that there are more arguments than ever about whether tenant break clauses have been exercised effectively.  Tenants must ensure that not …Read More