Shop leases – negotiating points when it all goes wrong

07/01/2014

Walking down your local High Street can be quite depressing these days – in our local area, Edgware, in North West London, I can remember the days when it was almost impossible to lease a shop and where leases did become available, the tenant would normally need to pay a hefty premium. Even though our READ MORE

Property co-ownership disputes – the trust for sale

12/11/2013

We always advise strongly, when a property is bought jointly, and where the parties are not married, that as part of the transaction a co-ownership deed is entered into. Like wills, these documents are at the more inexpensive part of legal advice, often costing less than £250.00 plus VAT. There are many compelling reasons why READ MORE

Extending a residential lease – calculating the premium

24/09/2013

If you are the owner of a flat, you will be aware it is subject to a lease. The very nature of a lease means that it will always be diminishing and in theory should the remaining term of your lease reach zero, your freeholder will take back possession of your flat. In reality this READ MORE

Setting up a share of freehold property company – the legal issues to consider

10/06/2013

Freehold property management company – when and why? Property management companies are often formed where the freehold is sold off to the leaseholders and where the freeholder will be responsible for management. Freehold management companies typically occur with a small block of flats or a converted house and the leaseholders each have shares in the READ MORE

Incentives and gifts in property transactions

09/03/2013

It was a common feature of the boom years in property transactions for deals to proceed with all manner of incentives by sellers and others to buyers, especially with new build properties. In some cases, incentives are still provided. The difficulty with the way incentives were and sometimes are made available is if they are READ MORE

Sometimes the right Plan A is far better than having a Plan B

09/03/2013

Lease plans legal problems In business we are frequently and correctly often advised to always have a Plan B in place. In many situations, that’s plain common sense. However, when it comes to property transactions, doing things the right way always make sense, notwithstanding this can lead to a degree of frustration where parties to READ MORE

Rent deposits for commercial property leases

14/01/2013

Before a lease is entered into between a landlord and a tenant, a rent deposit deed is usually entered into between the parties. This is a completely separate payment to the first instalment of rent, whenever that is to fall due. The document will set out how the deposit is to be held, when it READ MORE

Tenancy at Will

06/01/2013

A tenancy at will occurs when a landlord and a tenant agree that a tenant will be allowed to occupy a property before a lease has been issued. A tenancy at will is often granted when the landlord and tenant are in negotiations regarding a new lease. A tenancy at will means that the tenant READ MORE

Sinking funds for leasehold properties

19/12/2012

What is a sinking fund? A sinking fund is an amount of money which is set aside to cover any major work which is needed on a property in the future. Such funds are quite common with leasehold properties. The fund is usually part of the service charge that is payable by each leaseholder and READ MORE

Additional costs when assigning, subletting or seeking licences

16/12/2012

A frequent and understandable area of contention in commercial leases relates to additional and often unforeseen costs demanded by Landlords or their agents. I have lost count of the amount of times tenant clients are flabbergasted and infuriated by what they say as a form of legalised blackmail. Licence to assign The scenario often arises READ MORE