This exact point does not appear to have been decided, but the answer seems obviouse that the covenants should cease to be enforceable. This is perhaps one of those situations identified by Steyn LJ in Continental Bank NA v Aeakos Compania Naviera SA, ‘the more obvious the answer to a question is, the less authority there sometimes is on it’. Let’s build up from first principles. What is a surrender? Between the tenant and his immediate landlord, where the tenant yields up the term to his immediate landlord, the lease is determined by surrender (Fairweather v St Marylebone Property Co Ltd). Lord Denning said surrender is not the assignment of the term by the tenant to the landlord, but their agreement to destroy the term, at paras

Usually, a company voluntary arrangement (CVA) will divide the tenant's leasehold properties into different categories based on their financial viability or strategic importance to the company's business. The categories are usually on a sliding scale, with the ‘highest’ category of lease remaining largely unaffected by the CVA, followed by other categories with increasing rental discounts or outright closure. A CVA is a contractual agreement between the company and its creditors. A side letter is an agreement between the landlord and tenant for reduced rent. It is down to the exact terms of the side letter as to whether or not successors of the original two parties are

The amount of stamp duty land tax (SDLT) payable on a chargeable transaction is determined by reference to the 'chargeable consideration' for the transaction. Chargeable consideration has a particular meaning for SDLT purposes and is defined largely in section 50 and Schedule 4 to the Finance Act 2003 (FA 2003). For more detail see Practice Note: SDLT chargeable consideration. On the grant of a lease, SDLT will be payable on the net present value (NPV) of the rents payable under the lease plus any premium payable on grant of

No, so long as the settlement on the agreed rent is not also in full and final settlement of the interim rent and the time limit for making an interim rent application has not expired. The latest time for making an application for interim rent is no more than six months

In summary, the original management company will need to enter into a deed of variation with the landlord and tenant if the original management company was a party to the lease. It is a tripartite agreement, and thus it can only be varied by all three parties agreeing to the variation or an application being made pursuant to Part IV of

Form LTBT1 is a form prescribed by the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003, SI 2003/3096 (the Order) which provides that if the parties wish to contract out of (or exclude) the provisions of sections 24–28 of the Landlord and Tenant Act 1954 (LTA 1954) it is necessary for certain specified steps to be taken prior to such agreement being reached. It will often be the case that a landlord wishes to obtain the flexibility of a contracted out lease, as this will enable it to

Assuming a tenancy at will, can the Landlord (L) demand/accept rent, and chase up arrears, without prejudicing its position in respect of recovering possession if the Tenant (T) remains in occupation after any notice has expired? A tenancy at will should be terminated 'at will', ie immediately, rather than on notice. Tenancies at will only arise in very specific situations and, broadly speaking, this is generally where negotiations are ongoing for the grant of a new lease. Please see our Practice Note: Leases and licences of land—key features and differences. To avoid a periodic

It will depend on the terms of the flat leases as to whether the landlord can the recover the cost of such repair through the service charge. However, given that the water ingress has been caused by the negligent construction work by the landlord, there may be scope for the tenants to argue that the costs are not reasonably incurred within the meaning of section 19 of the Landlord and Tenant Act 1985. Alternatively, it may be that the lessees would have a claim in nuisance against the landlord

This Q&A assumes the question relates to a tenancy within England. Section 21 notice Within 30 days of receipt of a rent deposit, the landlord must comply with the initial requirements of the tenancy deposit scheme (TDS) by giving the tenant (and any person who pays the deposit on the tenant's behalf (ie the ‘relevant person’)) certain prescribed information about the TDS, the deposit and the assured shorthold tenancy (AST) (see section 213(3)–(6) of the Housing Act 2004 (HA 2004) (as amended) and Practice Note: Tenancy deposit schemes). Failure to do so has potential consequences. Under HA 2004, s 215 a landlord cannot recover possession of its property by serving notice under section 21 of the Housing

This Q&A considers forfeiture of commercial premises where it is argued that an implied tenancy exists. An implied tenancy may arise where a person is in exclusive possession of premises by the owner’s consent, and their possession is not as employee or agent or as a licensee holding under an irrevocable licence, and is not held in virtue of any freehold estate or of any tenancy

The protection provided by the Deregulation Act 2015 (DA 2015) operates so as to prohibit the service of a notice under section 21 of the Housing Act 1988 (HA 1988) requiring possession of a dwelling if certain conditions are not met and also to render a notice which has already been served invalid in prescribed circumstances. The protection conferred by DA 2015 only applies to assured shorthold tenancies (ASTs) granted on or

An Energy Performance Certificate (EPC) rates the energy-efficiency of a building on a scale of A to G, A being the most efficient. It is unlawful for a landlord to let a commercial property without a valid exemption if it is rated at F or G for efficiency. A landlord is required to have an EPC if they rent or sell premises; if a building that was under construction is completed; or if there are changes to the number of parts used for separate occupation which involve the provision of heating, air conditioning or ventilation systems. An EPC is valid for ten years. There are some exemptions, including short and long tenancies.