It is likely that at some point you will be approached by your tenant to extend their lease. Whether you agree to this or not, you will need a solicitor to act on your behalf to either record the terms of the agreement or to challenge the claim for an extension.
Voluntary Extension
If you agree to extend your tenant’s lease then the process is straightforward. We can help you record this or negotiate it as necessary before ensuring proper registration at the Land Registry.
Statutory Extension
The Leasehold Reform, Housing and Urban Development Act 1993 (as amended) enables tenants to extend their lease by 90 years in addition to the current unexpired term at a nil ground rent (£0), in return for paying the Freeholder a premium.
As a Freeholder it is important that your Counter-Notice is in the proper format and served correctly. We have experience drafting Counter-Notices, challenging claims for enfranchisement, negotiating favourable terms for Landlords, and defending claims at the First-tier Tribunal (Property Chamber).
How Attwells' can help?
Our commitment to our clients is to achieve the best outcome reasonably possible in the shortest amount of time. As we are a firm that specialises in property law, we have the necessary experience to deal with the complexities of the lease extension process and to keep you fully informed as it progresses.
Should you need advice from a surveyor we are happy to refer you to a specialist who can calculate the premium payable and carry out negotiations on your behalf.