Level 2 - LR Patchway Flashcards
Tell me about the lease renewal?
On behalf of the LL where an Outside the Act lease was due to expire
willing to renew with tenant
Undertook market analysis to understand land prices and rent
provided proposal for tenant with new terms
The property was a small piece of land that the tenant used to store cars for their operations
What were the terms?
5 year extension with LL only break year 3
Outside 1954 Act
£17,000 pa
Would you ever alter your communication method?
I would seek my clients preference
if they are a busy individual and do not have time for meetings, i would suggest regular email updates, or brief phone calls
They may prefer in person meetings and i would aim to accommodate where possible
How did you communicate with your client?
In this case, it was via email
My client was a senior member of his firm and often busy, particularly for smaller instructions
I therefore emailed him, copying in colleagues form C&W, on updates
An internal colleague at C&W looking after the account would also receive updated and provide them in regular meetings with the client
What benefits did he communication have?
It allowed my client to understand the progress of the LR
as outside the act, it needed to be confirmed prior to expiry to avoid delays and further work
Therefore, providing regular updates ensures I was on target
What did you include in your report to the client?
It was a formal report, outlining the instruction such as description of property, previous lease, new lease terms, rent, comparable evidence, recommendations to agree rent
