Industrial Unit Leases

[vixpy1]

Is it normal for a lease to be 'outside the landlord and tennant act?'

Many Thanks,

Charlie.

[Davel]

YHM - sorry for the delay in responding to yours.

[Mutt Kennelkof]

[quote=vixpy1]Is it normal for a lease to be 'outside the landlord and tennant act?'

quote]

Yep! If you would like more info, please e-mail off forum and I will point you in the right direction.

[chrisgr31]

vixpy1 said:

Is it normal for a lease to be 'outside the landlord and tennant act?' Many Thanks, Charlie.

Can be. Not sure what the advantage is to the tenant though!

As Tenant the L & T Act gives certain protection for tenure, and at the end of the lease the Landlord has to use specific grounds to to get the property back. Under some of those grounds compensation is payable to the tenant.

[Mutt Kennelkof]

The Landlord & Tenant Act 1954, Part II gives business tenants security of tenure when the lease expires with the right to a new lease on the same terms as the old lease other than rent which will be adjusted to open market value at the date of renewal. The Act sets out grounds for opposition to renewal such as the landlord requiring the property for his own occupation or redevelopment, but if these apply, he is bound to pay the outgoing tenant compensation based upon the rateable value of the property.

Excluding the lease from the Act removes the automatic right to a new lease on the same terms at the end of the term and the obligation for the landlord to pay compensation if it is not renewed.

However, it is unlikely that if a tenant has complied fully with the terms of his lease and has paid rent promptly that the landlord would be unwilling to grant a new lease unless he wants to redevelop or wants the building for his own occupation, but all of the terms would be then be negotiable and not just the rent.

[vixpy1]

Many thanks all, thats exactly what i needed to know.

Brilliant!

Charlie.