How does the process work/what are the steps?
On the grant of a new lease the landlord and tenant have usually agreed outline terms either directly, or with the assistance of a lettings agent. Each party appoints its own solicitor. The landlord’s solicitor provides replies to enquiries and a draft lease prepared in accordance with the Heads of Terms. A surveyor may be required to prepare a plan. The terms of the lease are negotiated and finally the lease is entered into with the landlord keeping a copy for future reference. On completion we collect rent and other money due when the lease commences.
In the case of lease renewals there may be a requirement to serve a notice on the tenant under the provisions of the Landlord & Tenant Act 1954 which grants security of tenure rights (which means that the lease will not automatically end when it expires) to many commercial tenants. If terms cannot be agreed, we can assist with the statutory procedure to resolve the matter through the Courts, or with the help of a professional arbitrator appointed on Court terms under the PACT Scheme (Professional Arbitration on Court Terms).