Case Note - Lease Flashcards
Questions for company
- Name
- Registered number
- Registered office
- Capacity of client
- Details of other directors
Questions for Building
- Full address
- freehold/leasehold
- Title number / title plan
- How many floors
- what amenities are held?
- Access
- lease plan
current physical condition
Questions for lease area
- any parts not in demise?
- who is responsible for upkeep of joint areas?
Questions for lease term
- how long is the lease?
- flexibility?
- will there be a break clause? - if so fixed or rolling? what’s the notice?
Questions for lease term more 6 months
- opt out of Landlord Tenant act 1954
“The Landlord and Tenant Act 1954 offers tenants who occupya
property for the purposes of their business, under a lease for more than 6 months, a certain degree of security i.e., protection from eviction. Basically, a business tenant can continue to stay in a property after the end of their term, if certain conditions have been met. The tenant can then ask (often compel) the landlord to grant a new lease to them. The landlord can refuse to renew, but only in limited circumstances. Therefore, for shorter leases, most landlords want to exclude security of tenure and have the lease contracted outside of the provisions of the Landlord and Tenant Act 1954”
Rent
- how much annual rent
- when payable
- Vat be charged
- Any rent free period
- will there be a rent review, how calculated
Service charge
- will there be a service charge?
- when
- fixed?
Insurance
- who will insure
- cost??
- rent suspended if building damaged by insured risk
Use
What will be the use
Any scope for amending
Alienation
- will T be allowed to assign?
- AGA?
- Underlet
- can T shae?
Repair
- What will T be responsible for?
- limit exposure through schedule of conditions?
