Leasing can be a tricky situation. This is exacerbated when you have built your business around a property that belongs to someone else. Fortunately, there are provisions in the law to help protect the integrity of your business at the end of a tenancy.
As a commercial landlord, your circumstances may demand that you need to terminate a lease. The law can help you with this under the right circumstances.
Saracens Solicitors is here to help you understand your rights, whether as a landlord or tenant, when we are acting as your commercial lease solicitor in London.
Do you have a right to renew?
The Landlord and Tenant Act 1954 provides some protection for businesses. It may not be possible for a landlord to evict a tenant without first serving notice and giving the tenant a chance to respond.
There can be some tricky exemptions and much of the original act has now been superseded by further legislation. Involving a commercial lease solicitor in London, like Saracens Solicitors is the best way to tell if you can benefit from the act.
Refusal to renew
Saracens Solicitors can also help if you are a landlord and wish to refuse renewal to a tenant. There are several circumstances under which you may be able to do this. If the tenant has breached the terms and conditions of their lease, for example. You may also be able to offer them an alternative place to house their business.
Many issues can be solved by the process of negotiation. Going to court can be a costly business and engaging a commercial lease solicitor in London, like Saracens Solicitors, can save you money in the long run if we can reach a reasonable settlement between you and the tenant.
Ending the tenancy
The tenancy may be terminated under one of the circumstances noted above or by mutual agreement between the landlord and tenant.
Surrendering a lease is a complex process where liabilities and costs need to be clear for both parties. Saracens Solicitors can help you to navigate this process, whether you are a landlord or a tenant, when we act as your commercial lease solicitor in London.