Properties can be let, sub-let and sub-underlet, creating a variety of different legal interests in the same building or parcel of land. The lease is a document setting out the rights and responsibilities of landlord and tenant. A good understanding of the terminology of leases is important in the sale and valuation of the various interests in property. We can advise tenants and landlords on a number of specialist areas:
Rent review and lease renewal - including rental valuation, timing, tactics, negotiation and expert evidence.
Surrender and renewal of leases and operation of break clauses.
Dilapidations schedules, their preparation and the negotiation of a claim and defence to claim.
Valuation of leasehold interests, marriage value and investment value.
Terrier entry - a diary note of key dates in a lease with sufficient forward notice to save missing a rent review, break clause or lease renewal
Maintaining important information on file for client reference including copy of the lease and other documentation, schedules of floor areas, rent reviews, planning services, boundaries, rating etc.