A lease is a contract of occupation and a number of important issues need to be considered well in advance of the lease expiry date. Whether you are choosing to renew a lease or simply bring it to an end there are strict procedures that need to be followed to ensure that the desired outcome is achieved at the minimum cost.

Commercial tenants have a right to renew leases under the Landlord and Tenant Act 1954 – unless they have specifically contracted out of this. Usually the landlord will serve notice on the tenant stating whether or not it will grant a new lease. If a new lease is being offered the notice will outline the terms being offered. Failing agreement, the tenant may apply to the court for a new lease.

In certain circumstances it may be advantageous for the tenant to get in first and serve notice on the landlord requesting a new lease. Whether renewing or terminating there are many issues to be considered from interim rents during the negotiating process to the impact of repairing clauses. Many has been the unwitting tenant faced with enormous and unexpected but not unavoidable repair bills at the end of their tenancy. 

We will consider all the options and work with you to put together a strategy to minimise costs in respect of the tenant or maximise return for the landlord.