A great deal of our work relates to Leases and Landlord and Tenant matters. The most familiar concepts of a Lease are a long Lease of a flat, at a small ground rent, often granted for 99 or 125 years or longer, and the shorter terms Leases of commercial premises, most often granted at a full commercial rent for a term of between 5 and 20 years, with rent reviews at agreed intervals. It is normally the Landlord’s solicitor who prepares the initial draft of any new Lease, and this is then settled by negotiation with the Tenant’s solicitor. Leases can impose significant liabilities on the Tenant which are not immediately apparent e.g. the need for unseen repairs. As a Tenant you are well advised to have any leasehold property which you are interested in acquiring surveyed, and when we act for a Tenant we try to limit the Tenant’s liability so far as practicable. The most frequent areas of work which we deal with are:-
1. The grant, sale and renewal of Leases of both residential and commercial property;
2. The termination of Leases of commercial property where the provisions of the 1954 Landlord and Tenant Act apply, and where the Tenant has security but has to comply with certain statutory requirements to ensure that the right to a new Lease is not lost.
3. Licences/permissions required under Leases e.g. Landlord’s Licence permitting the sale of Leasehold premises, or permitting alterations or improvements;
4. In conjunction with surveyors, dealing with rent reviews and disputes as to repairs and similar;
5. Renewing and extending long residential Leases under the provisions of the relevant legislation (The Leasehold Reform Act 1967 and The Leasehold Reform Housing and Urban Development Act 1993).
6. Dealing with compulsory enfranchisement (the purchase by flat Lessess from their Landlord of the freehold interest)
And similar associated work.
In addition we effect rent recoveries, and also deal with possession proceedings where the Landlord has a legal ground for terminating a Lease and requires possession of the premises. |
