Tenant Services

As a Tenant, you probably want to get into possession of your new Property as soon as possible so you can start trading. You may see a Lease as just another legal document that needs to be signed up to. But be warned, a Lease is a complex legal contract which could place obligations on you for years to come and potentially even after you have vacated the Property. Things you need to consider include:

How onerous are the lease conditions, especially in relation to repair?
What financial obligations does it place on me?
Can I easily adapt the Property for my future needs?
What is my exit strategy if the Property is no longer suitable for whatever reason?

At Herrington Carmichael, we can offer you different levels of services to meet your needs. If you are considering taking a new lease, we are happy to provide you with a report on that lease, to negotiate the terms of it or even undertake a full due diligence legal audit on the lease and the Property.

In addition to new leases, we are finding a high number of enquiries from clients relating to Lease Renewals and Break Clauses, and by taking legal advice early, these clients are finding that they are saving money.

Lease Renewals

If you are currently considering renewing an existing lease, you may think you can save money by not instructing a solicitor and simply signing an extension of the existing lease. But these days this could actually cost you money as rents are falling. It could also be a good time to review the obligations contained in the Lease and negotiate alterations to make it more Tenant-friendly.

Break Clauses

If you are an existing Tenant and considering exercising a break clause on your Lease, please contact us for advice on how to do this correctly. The last thing you would wish is to end up in dispute with your Landlord as to whether your break notice has been validly served. Getting this wrong means that you may be stuck with a Lease you no longer want for the rest of the term or until the next available break. The importance of this point was highlighted in the case of Hotgroup Ltd v RBS (2010). See our article.

Disputes

Finally, if a dispute does arise between you and your Landlord, we can liaise very closely with our colleagues in our Dispute Resolution team to ensure that you receive the correct advice and a plan to help wherever possible to resolve the dispute and avoid lengthy and expensive court action.

 

The Legal 500Our Real Estate team is delighted to be recognised in this year's edition of the UK Legal 500 who said " Herrington Carmichael LLP have an excellent team who handle a range of residential and commercial development matters."

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