Your Business Tenancy

Lots of local businesses agree to lease premises for their shop or office without considering properly the legal issues. On 1st June important changes took place to the law on business tenancies.

 

Rhona Forster, head of our Commercial Property Department, says: “We deal with business tenancies week in, week out and it is rare for the law to change in such a fundamental way. The new rules means that where the tenant is an individual, occupation by a company in which he has a controlling interest will give protection under landlord and tenant law. This improves your rights. If a company holds a lease, occupation by a person with a controlling interest will similarly provide protection. There are also some changes to procedure. Until 1st June a landlord was not required to set out his proposals for a new tenancy until after the tenant had applied to the court for a new tenancy. From 1st June the landlord’s notice stating that he is not opposed to the grant of a new tenancy will be the same as the tenant’s request - a new section in the Act requires the landlord’s notice to set out proposals as to:

 

 

This will require valuation evidence and we can advise on how to obtain valuations.

 

The changes also mean that there is a presumption in favour of a new tenancy so tenants may find it easier to get their lease renewed. Local landlords however may not be so pleased. The changes allow both the landlord and tenant to apply to the court for the grant of a new tenancy. Until 1st June only tenants could do this.”

 

For further information contact Rhona Forster on (0117) 929 0451 or e-mail rforster@metcalfes.co.uk

 



Whilst every care has been taken in producing this Press Release, no liability is accepted for any errors or omissions. The Press Release is not a substitute for proper legal advice, merely an aid.