The Landlord & Tenant Act 1954 provides security of tenure to many businesses renting commercial property. This means that, at the end of the term, the tenancy will continue and the tenant can request a new lease from their landlord.
New lease terms may be agreed through a commercial letting agent or directly with the landlord. Our commercial property solicitors can then assist by drafting and agreeing the new lease.
When it proves difficult for the landlord and tenant to agree terms, or the landlord opposes the grant of a new lease, the Landlord & Tenant Act 1954 sets out procedures for either party to apply to the courts to determine the terms of a new lease, or whether a new lease should be granted at all.
What is the Notice Procedure?
Either a landlord, or a tenant, can initiate the formal lease renewal process. A landlord by serving a notice under section 25 of the Landlord & Tenant Act 1954, either opposing the grant of a new lease, on one or more of the statutory grounds, or by setting out the terms of a new lease it is prepared to grant. A tenant is required to serve a notice under section 26 of the Landlord & Tenant Act 1954.
Before serving either a s.25 or s.26 notice it is imperative that landlords and tenants obtain legal advice as to the potential ramifications. Once the decision has been made to serve a notice, it is important to ensure it is correctly prepared and served. This is not always straightforward and our property dispute resolution solicitors can advise you and manage this process.
Will I need to go to Court?
It is to be hoped that correctly served notices will focus the minds of the other party and move negotiations forward, however either party will have recourse to the courts, or arbitration, if a renewal lease cannot be agreed.
Ensuring any application is prepared appropriately and made within time, can be complex and technical. Our property dispute resolution solicitors can advise you and manage this process on your behalf.
Can I still negotiate?
Yes, Landlord & Tenant Act proceedings can, and often do, bring parties to the negotiating table and our property dispute resolution solicitors are experts in advising on the back-and-forth between parties, often working closely with a valuation expert.
What will it cost?
Our fees are charged on an hourly rate basis. We will, of course, give you estimates in advance and throughout the course of the matter.
Why are Grant Saw the best people for the job?
Our team of property dispute resolution solicitors are adept at handling negotiations and court processes to get the best result for you. We act for landlords and tenants so have unique commercial insights into the thinking and strategies that each adopt.
For more information, please email litigation@grantsaw.co.uk today or contact our team on 0208 858 6971.
