When a commercial property lease becomes due for renewal, landlords and tenants have statutory rights. SFP Property guides its clients through the renewal process to ensure that rights are not lost and maximum value is secured.
The Landlord and Tenant Act 1954, and associated legislation, provides the procedural basis for lease renewals, including detailed timetables which, if not adhered to, can expose both parties to financial disadvantage.
Securing Rights as a Tenant or Landlord
As a lease renewal event approaches, it is essential for both the landlord and the tenant to have a clear understanding of their rights and obligations, along with a strategic perspective on the course they wish to take.
With detailed knowledge of the commercial property market and current market trends, SFP Property is well placed to provide advice which enables the determination of the most appropriate strategy.
Issues which need to be considered when approaching a lease renewal include:
- Nature of the business for which the property is being utilised;
- Ascertaining the renewal process timetable;
- Assessment of the tenant’s conduct during the lease; and
- Options available for dispute resolution.
Mitigating the risks associated with the lease renewal process usually requires the involvement of commercial property specialists with experience of achieving the right results for their clients.
SFP Property has a strong track record of helping both landlords and tenants secure outcomes aligned with their strategic objectives.
Dispute Resolution and Arbitration
Valuation issues and other commercial property disputes can often be resolved relatively quickly through the right combination of market knowledge and professional negotiation. SFP Property puts the interests of the client first while working towards ongoing mutually beneficial relationships.