Unlike rent reviews, lease renewals are governed by Statute - principally the Landlord & Tenant Act 1954 (as amended).
Consideration needs to be given to
- serving well in advance:
- who should serve Notice first;
- when Notice should be served - and what time-scales need to be adhered to.
A tenant can lose the right to a new lease if a response is not made within prescribed time-scales.
In addition to these considerations, advice will be given on all the terms of a new lease, including the current open market rental value. We endeavour in all instances to negotiate the best possible terms on your behalf.
Lease renewals are usually agreed by negotiation, but if no agreement can be reached, the matter is determined by the County Court. We are able to - and have experience in preparing - a proof of evidence and can act in the capacity of expert witness in court if required.