Property Litigation: When Does Your Commercial Lease Expire?
LAWSON-WEST SOLICITORS - PROPERTY LITIGATION SERIES
When Does Your Commercial Lease Expire?
Whether you are a commercial landlord or a business tenant, it is important for you to know when your commercial lease is due to expire.
Unless you have successfully contracted-out, the Landlord and Tenant Act 1954 provides most commercial tenants with the right to renew their business tenancy known as ‘security of tenure’.
There is a set process and strict timelines which need to be followed to ensure business tenants retain their right to renew their commercial lease and it also provides commercial landlords the advantage to either secure a lease or alternatively object to such renewal for limited and specific reasons.
The Landlord and Tenant Act 1954 covers several notices (section 25, 26 and 27 notices) and eventualities that you must take into consideration whichever way you wish to proceed.
Landlords and tenants often trip-up in failing to comply with the statutory procedures and/or requirements for the valid service of notices (to name a few), and it is therefore vital that you seek professional legal advice on your lease at least 12 months in advance of the expiry of your commercial lease.
Our Litigation & Disputes team is experienced in dealing with lease renewals for both landlords and tenants and can advise you on your obligations and the processes involved.
Please contact our Litigation & Disputes team to discuss your commercial lease.