Lease Expiries

Lease Expiries

As a tenant of LSR you will have a lease for your premises of a fixed period of time i.e. three years, five years etc.

Commercial property leases issued in England and Wales may be subject to the Landlord & Tenant Act 1954, which gives the tenant the right to renew their lease, on terms to be agreed with the landlord. This legislation requires that a notice is served by the landlord (called a section 25 notice) where the landlord states their intention to terminate the current lease at the expiry date and sets down their proposed terms for a renewal lease. As a tenant you also have the legal right to serve a similar notice on the landlord.

If a lease is not subject to the provisions of the Landlord & Tenant Act, this fact will be specified in the lease document.

Generally, when approaching the end of your lease either LSR, or an agent acting on our behalf will contact you and ask if you intend to renew your lease. If you do want to renew, then we will serve the appropriate notice and negotiate new terms. You are, of course, entitled to seek professional advice on this matter.

If you are leaving the premises, you will be liable to the landlord for any sums due or any repairs you should have carried out during the period of your lease — these are known as dilapidations.

Published : Friday, October 26, 2012 2:00 PM

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