Lease Renewals

Commercial Property Lease Renewals in London & the Home Counties

Most business leases are protected by security of tenure. This means that even though a lease may expire, the tenancy which that lease governs will continue until it is formally determined. Whether you are a landlord or tenant, you will need to plan for your lease expiry and ensure that you have done everything necessary to protect your position. Both rent and new lease terms are critical to the renewal negotiations. Maunder Taylor provide comprehensive advice to ensure that new lease terms meet our clients’ requirements as far as possible.

Report

When reporting to our clients we carry out a measured inspection of the property and comprehensive market research.  We analyse the terms of the existing lease and consider whether these are appropriate for the new lease.  We provide a full report with reasoned recommendations as to our assessment of what the new rent and terms of the new lease should be.

Early Consideration

It is helpful to give initial consideration to a lease renewal 15 months prior to the expiry of the existing lease as formal notices may have to be served within specified time limits. This also gives our clients time to consider their options and make sure that the lease expiry fits in with their business strategies, rather than having to adjust their business activity to fit in with a lease expiry.

Negotiations

We aim to reach settlement by way of negotiation. We always strive to conduct negotiations in a manner which best suits the requirements of our clients.

Disputes

It is sometimes the case that lease renewals cannot be agreed by negotiation, and are referred to the County Court or PACT (Professional Arbitration on Court Terms).  We have significant experience in acting as Expert Witness and giving expert valuation evidence in Court and Tribunal cases, both in written representations and at oral hearings. We are able to ensure that our clients’ cases are dealt with both professionally and competently in accordance with the Civil Procedure Rules and RICS Practice Statements.  We also advise on the costs of the reference to the third party and how our clients may seek to limit their exposure to those costs.

Contact

Contact Ross Maunder Taylor or call on 020 8492 5526 for more information about our lease expiry service.

Articles & Downloads

Business Lease Renewals – Knowing Your Legal Position
Key Factors in Dealing with Defective Leases FIND OUT MORE →
Key Differences Between Protected and Unprotected Leases FIND OUT MORE →
The RPI and the CPI – Why the Proposed Changes Matter in the Property Market FIND OUT MORE →
What Elements Can Be Altered in Business Lease Negotiations? FIND OUT MORE →
“Maunder Taylor took over as the Managing-Agents for our apartment block (Melrose Place in Swiss-Cottage) about 2-years ago. They took over at a difficult period from previous Managing-Agents that were so dreadful that the Lessees had to all come together and take them to court to force them out. The former Managers had completely run down the services and depleted the sinking fund, but Maunder Taylor have completely turned things around in a very short space of time and completed several repairs and improvements. Michael and the rest of the team are extremely responsive and always helpful. We are really glad to have them onboard!”
Ahonsi Unuigbe – lessee in a block of 52 flats, NW3
“Just a very quick note to thank you for all of your efforts and diligence on this matter. I am a Building Surveyor and I completely appreciate how long these things can take and the processes that need to be followed. In fact, I have deliberately left you alone to allow this process to go through the various stages required, as I could see that you were managing this in the correct manner. I am obviously delighted that the Grant will be covering the works, so I am personally very appreciative of your efforts - thank you.”
Gavin Beesley MRICS – lessee in a block of 102 flats, SW2, in relation to a re-cladding project