Landlord and Tenant

Making The Complex Simple, For Landlords and Tenants

Our experienced team of commercial property solicitors at Oakwood Property Solicitors are specialists in all aspects of property management and lease agreements and have experience in acting for landlords and tenants.
As a landlord, we understand that your property is an important source of income as well as a high value investment that you want to take the utmost care of. At Oakwood Property Solicitors, we offer a range of services to help landlords manage their property in the most secure way possible.

For commercial tenants, we have a wealth of knowledge gained over 15 years in securing the best possible lease agreement for your business and are always on hand to support our clients in matters arising from a dispute.
Our experienced team are on hand to help you with all aspects of the landlord and tenant relationship. Whether it is creation, variation or termination, our commercially astute solicitors here at Oakwood Property Solicitors are experts in finding the best, most efficient solution to give you peace of mind.

Leases

Leases are a complex and ever-changing area of property law and it is very important to get the terms of the lease right. The lease can affect the value of your property as a landlord or, as a tenant, can create a larger financial burden than anticipated. Our team at Oakwood Property Solicitors have a depth of commercial knowledge in drafting lease agreements for all types of commercial property such as industrial units, retail parks and office spaces.
We can act on behalf of commercial landlords or tenants, always ensuring that our clients are fully protected by the terms of the lease that is granted.
A lease that is granted for more than 7 years must be registered with the land registry and contains extra clauses and provisions for this.

Rent Deposit Deeds

A Rent Deposit is a sum of money paid by a tenant to landlord on the granting of a lease. The Rent Deposit Deed is the documents that determines how a landlord will secure a commercial tenant’s deposit. It will also deal with the circumstances when the landlord can use the rent deposit money and when it has to be returned to the tenant.
Having a correct Rent Deposit Deed in place ensures that the landlord is covered for any losses and expenses that may be incurred if the tenant does not comply with the lease covenants. It is also important for a tenant to know how their money is held and to be safe in the knowledge that it cannot be spent inappropriately by the landlord.
As part of our service at Oakwood Property Solicitors, we not only advise you on what should be included in the Rent Deposit Deed, but we also draft the documentation to ensure that our client is fully protected. We take the time to explain the legal complexities of this document to our clients.

Security Of Tenure

Security of Tenure means that where there is a commercial lease of premises between landlord and tenant and the property is being used for the operation of a business, the tenant has a right to renew their lease when the term comes to an end.
If a landlord wants to get their commercial property back from its tenant once the lease terms has ended, the landlord will have to follow the procedure set out in the Landlord and Tenant Act 1954, showing the reasons why a renewal lease should not be granted.
There are prescribed forms which must be used by both the landlord and tenant during the lease renewal procedure and Notices that must be served. These must be served within specific timescales to protect rights. It is therefore imperative that an experienced commercial property solicitor at Oakwood Property Solicitors is instructed by you to give advice and to serve the required notices. We are able to ensure that the process of securing your lease renewal is as painless and stress-free as possible and have a wealth of experience in this area of law.

Stamp Duty

Stamp Duty Land Tax, otherwise known as SDLT, is a tax payable to the Inland Revenue on any purchase or lease over certain threshold values. SDLT applies to all property and land in England, Northern Ireland and Wales with a £150,000 threshold for commercial land and property. There is a more complex calculation that needs to be carried out on the grant of new leases which takes into account the amount of rent payable in the first 5 years of the lease term.
SDLT applies to all property purchases, whether it is a freehold purchase, transfer (especially if there is a mortgage on the property) and some leases depending on the terms of the lease. Not paying SDLT within 30 days can be penalised and incur interest charges.
Our expert team at Oakwood Property Solicitors are able to assist with all matters relating to Stamp Duty Land Tax and keep you up to date on current guidelines.

Lease Management

We can assist with all areas of lease management such as licence to assign, Authorised Guarantee Agreements, licence for alterations and underlettings.
Commercial landlords are often required to give specific consent for tenants to undertake any type of works at their property. The process of creating these legal documents can often be complex as they vary from case to case. Works carried out by the tenant can enhance the value of the property or could reduce it so the landlord needs to ensure that this is carefully regulated.
Alterations can also have implications on rent review, so it is important to obtain full legal advice from ML Property solicitors to discuss the implications of the works.
When one tenant wishes to sell their lease to another, they will usually need to obtain consent from the landlord. ML Property solicitors can deal with the paperwork involved including the licence and authorised guarantee agreement.

Lease Renewal

Where the tenant has a lease that is protected under the security of tenure provisions the renewal lease has to be negotiated and entered into. The Landlord & Tenant Act 1954 provides that the new lease has to be on substantially the same terms as the previous one, except for any updating to reflect changes in the law.
At Oakwood Property Solicitors we can thoroughly check the new lease to ensure the obligations contained in it do not place an additional burden on the tenant and to ensure that the landlord is issuing a lease that is compliant with the law.
The level of rent payable under the renewal lease can be negotiated between the landlord and tenant and if there is a disagreement then the parties can refer this to the court. However, any court action is time-consuming and can be costly, so it is far better to agree this with the landlord.

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