Dibbens has a wealth of experience to assist you and whether you are the Landlord or the Tenant you need to consider in good time what your rights are as the Lease comes to an end or if the Lease contains a break clause (right to bring a Lease to an end early) how this will operate.
As a landlord you will be looking for continuity of occupation and a secure rental flow assuming the Landlord does not want the premises back but what if the Tenant wants to leave.
As the Tenant you maybe looking to remain in occupation and be happy to renew the Lease provided satisfactory terms can be negotiated. On the other hand as the Tenant you may wish to leave.
As the Lease comes to an end either party can initiate negotiations for a new Lease and open discussions which may well result in a new Lease being completed without servicing notices. If a more formal approach is required either party can serve a Notice under the Landlord & Tenant Act 1954 provisions to bring about negotiations.
If the Tenant does not wish to renew the Lease then provided the Tenant vacates the premises by the contractual expiry date then the Tenant may do so without formal Notice to the Landlord. The Tenant however needs to be aware that there will still be responsibilities due to the Landlord under the terms of the Lease and before making a decision to vacate needs the benefit of professional advice to carefully consider what must be done.
The Tenant will usually have repairing and maintenance obligations and is required to return the premises to the Landlord repaired and maintained and decorated in accordance with the terms of the Lease. If the Tenant fully considers these matters early then such repairs can be carried out before the Lease expires and may result in a cost saving.
If you are a Landlord with a Tenant who maybe about to leave the premises you need a Schedule of Dilapidations drawn up as soon as possible in order to open negotiations with the Tenant to secure the return of the premises at the end of the Lease in the condition required by the repair and maintenance terms, thereby enabling the early re-letting of the premises.
If the Tenant wishes to remain and the Landlords wishes to re-let then negotiations over the terms can progress and a new Lease granted when everything is agreed. The new Lease on renewal should substantially follow the terms of the existing Lease.
Early advice and action will hopefully lead to the satisfactory conclusion of either a Lease renewal or a Lease expiry. As Leases terms vary, specific advice must be obtained.
Dibbens can advise on all such matters acting either for the Landlord or the Tenant. Please contact Tony Mellowes or Martin Laszlo