7 May 2010 by

It’s decision making time or else…

Are you a tenant of a property under a lease which is simply too large for your purposes or one you no longer need, or do you need to reduce rent, rates and other liabilities.

In a falling market (as we are experiencing now) it may difficult for you to assign your lease. A possible short term solution is to sublet the whole or part of the property.

The first port of call is your lease to ascertain whether or not subletting of the whole or part is permitted and, if so, what preconditions you must satisfy. If subletting is permitted a landlord must consider your request and any unreasonable refusal or delay could result in an obligation to pay you compensation, particularly if the proposed subtenant is lost.

Some leases do not allow subletting at all or only allow a subletting of the whole of a property (as opposed to part of it) and at the rent paid under the lease or the current market rent, whichever is the higher. This can render a proposed subletting difficult, if not impossible in practice.

Various methods have been used in an attempt to circumvent preconditions in a lease, for example by using side letters or rent support deeds. However, cases going back as far as 1923 establish that a landlord is entitled to know the true nature of a transaction and a scheme devised with a view to misleading the landlord is normally, with some exceptions, bound to fail. A consent obtained through such means is also potentially void, leaving a tenant vulnerable to an action by the landlord for an unauthorised subletting.

Please call us if you are a tenant wishing to sublet the whole or part of your property or if you are a landlord faced with such a request. Prompt advice is crucial as the consequences of delay can prove expensive.

30 April 2010 by Louise Dawson

Buyers and Builders beware

The Consumer Code for Home Builders ('the Code') came into force on 1 April 2010 and was formed by agreement between three new home warranty providers; NHBC, MD Insurance Services Ltd (trading as Premier Guarantee) and LABC New Home Warranty. All builders and developers registered with them must comply with the Code.

4 May 2010 by Lynne Burdon

We have today launched a new comprehensive solution for our Private Clients

We have today launched a new comprehensive solution for our Private Clients.

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