The Landlord needs to check that the Tenant will be able to meet their liabilities under the terms of the Lease.  The Landlord assesses the financial viability of a prospective Tenant a fairly standard request being for at least one Bank reference, two trade references and a professional reference.

A Rent Deposit is a means of conferring on the Landlord additional security in the event of the Tenant’s non-payment of rent or other monies due under the Lease.

These are becoming increasingly common these days.

The monies are usually paid to the Landlord on completion of the Lease.  The Landlord will deposit this money into an interest bearing account, which the Landlord is able to call upon if the Tenant defaults.

The actual sum deposited is of course a matter for negotiation but it can be rent for a quarter, six months or even a year.  It is sometimes possible for agreement to be reached as to the deposit being repaid after an initial period, subject to no default having arisen, on the basis of the Tenant then being regarded as having obtained a good track record.

It depends on whether or not your Lease is protected by the Security of Tenure Provisions within the Landlord and Tenant Act 1954 Part II.

If your Lease is protected then despite the end of the contractual term, the Tenancy will automatically continue until such time as it is terminated in one of the ways specified in the Act.

Upon the determination of a Business Tenancy in accordance with the Act, business Tenants normally have a Statutory right to apply to Court for a new Tenancy and the Landlord may only oppose that application on certain limited Statutory grounds.

 Much depends on the nature and complexity of the Lease. 

Acting on behalf of a Landlord, we need to draft a new Lease tailored to the Landlord’s requirements.  Negotiations invariably ensue in which the proposed Tenant’s Solicitors raise enquiries in respect of the property and the terms of the Lease are finalised.

Acting on behalf of the Tenant, involves reviewing the Lease and ensuring that it is as fair as possible from a Tenant’s perspective and their proposed use.

Negotiations can be protracted and it is rarely easy to give a definitive indication of costs at the outset of a transaction.

Our aim is to try and give a good and cost effective service, whilst discussing potential problems and constructive solutions with you, with your best interests at heart.