Lease Renewals
The Landlord & Tenant Act 1954 allows for notices, counter notices and applications to Court upon expiry of a business tenancy. It is therefore vital that both landlords and tenants are advised how best to proceed.
We generally advise that an initial valuation and assessment is carried out. This will include an inspection of the property, researching of the pitch and local area, and referencing of the necessary lease and accompanying documents, in order to provide our assessment of the most accurate terms and conditions of a new lease or tenancy.
An initial assessment will usually lead to the negotiation of rent with our primary objective being to achieve the best possible result for our client.
Rent Reviews
We offer a full rent review service to assist landlords and tenants in agreeing the ‘market rental value’ of their property, as at the date of review.
As with Lease Renewals, we advise that an initial valuation and assessment of the property is carried out to include an inspection of the property, research of the pitch and local area, and referencing of the lease and accompanying documents. This will assist in providing an accurate assessment of the market rental value at the date of review.
We also offer to take over negotiations on behalf of clients (landlords or tenants) to include strategic advice for a successful settlement of this process. Negotiating successful rent reviews often become more complex than initially thought, where individual lease terms significantly affect market value.
Where negotiations break down and a settlement is not possible, we have experience in producing Expert Reports for Third Party, Independent Expert or Arbitration, awards.
Enfranchisement
We offer clients a Valuation required for ‘lease extensions’, carried out under the provisions of the Leasehold Reform, Urban Development Act 1993, as amended. Our aim is to assist and advise both lessees and landlords in a successful settlement.
We attempt to ensure that an agreement is reached without a requirement for a referral to the ‘Leasehold Valuation Tribunal’ although where this course of action is unavoidable we hope our efforts ensure a satisfactory outcome.