Property management

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Property management guidance:

When LTA 1954 applies on surrender—agreements to surrender Under section 24 of the Landlord and Tenant Act 1954 (LTA 1954), if a lease is not contracted out of LTA 1954,...

Practice Note

The Royal Institution of Chartered Surveyors (RICS) Professional Statement on Service Charges in Commercial Property, 1st edition (the Service Charge Statement) (1st...

Practice Note

Accepting a surrender can be the quickest way for a landlord to regain possession of the premises from an insolvent tenant. It circumvents the extra requirements before...

Practice Note

Is the landlord’s consent required to the assignment? Check the terms of the lease (including any deeds of variation or supplemental documents). If the lease is...

Practice Note

Agricultural Holdings Act 1986 Under the Agricultural Holdings Act 1986 (AHA 1986), either the landlord or the tenant may ‘demand’ that the ‘rent properly payable’ in...

Practice Note

This Practice Note discusses a tenant’s considerations when negotiating alienation provisions in a rack rent commercial lease that is a new lease for the...

Practice Note

In the absence of an express provision in the lease (which is rare), a landlord has an absolute right to refuse consent to alterations outside the demise. Definition of...

Practice Note

Statutory provisions Section 143 of the Law of Property Act 1925 provides that where a licence is granted to a tenant to do any act, the licence, unless otherwise...

Practice Note

Introduction Most leases contain an absolute prohibition against assignment of part of the demised premises. This is due to the potential complications in relation to: •...

Practice Note

What is an authorised guarantee agreement (AGA)? Under an AGA an outgoing tenant guarantees some or all of the obligations of an incoming tenant under a lease. It was...

Practice Note

Background—Landlord and Tenant (Covenants) Act 1995 Landlord and Tenant (Covenants) Act 1995, s 5(2)(a) provides that if: 'a tenant assigns the whole of the premises...

Practice Note

Break conditions must be strictly complied with. If a condition provides that any outstanding rent is paid up, the tenant must make sure that it is paid in full and on...

Practice Note

Break clauses—commercial importance Commercially, the break clause is likely to be a key clause for a tenant to give it flexibility. Failure to comply with the terms of...

Practice Note

A tenant's right to break is often conditional on compliance with covenants. The extent to which those conditions must be satisfied depends on whether they are absolute...

Practice Note

Where a tenant has protection under Part II of the Landlord and Tenant Act 1954 (LTA 1954), service by the landlord of a contractual notice to exercise a break clause...

Practice Note

It is crucial that the requirements in a break clause—as to form and service of the notice and not just the conditions on the option—are complied with to the letter. The...

Practice Note