Letting of Commercial Property

Question 1

Section to Renew Tenancy

Answer 1

S25
Between 6-12 Months Before End of Term

Question 2

SDLT Paid on Long Lease

Answer 2

Over £150,000 SLDT Paid at 1%

Question 3

Letting Regulations

Answer 3

• EPC
• Asbestos Management Plan (If Reqd)
• Equality Act 2010
• Fire Safety
• Building Insurance
• Gas Safety
• EICR

Question 4

Two Notices - Contracting Out

Answer 4

1. Warning Notice - 14 Days Before Commencement of Tenancy
2. Stat Dec - If Less Than 14 Days

Question 5

Tenants Notice to Extend Lease

Answer 5

S26
Cannot be Served if Landlord Has Served S25

Question 6

Tenancy at Will - Key Points

Answer 6

• Notice Can Be Served at Any Point with No Notice Period
• Informal Agreement
• Useful if VP Required Quickly

Question 7

When is Business Rates Relief Available

Answer 7

If Rateable Value Less Than £15,000 Reduction if Less Than £12,000 Then No Rates Payable

Question 8

Rent Section - LTA

Answer 8

S34