Lease Renewal (tenant)

What else you might like to know about Lease Renewal (tenant)

If you need to renew the lease with the landlord of the property your business occupies, a legal service provider is well placed to handle documentation and agree tenancy terms on your behalf. Here is some basic guidance to inform your choice of legal expert.

How is the lease renewal process started?

Lease renewal and extension procedures are typically started by the party leasing the property. If you are a tenant wishing to extend your lease, you will require a legal service provider to handle proceedings in conjunction with the landlord’s legal representative.

How long can a lease be renewed for?

You may request a lease extension at any time during the leasehold period. The maximum extension that can be applied for by a tenant is 90 years on a flat and 50 years on a house. There is no minimum leasehold extension period.

How can mediation help?

A legal service provider appointed as mediator will liaise with both parties in order to try and ensure that the extension of a lease is completed swiftly and efficiently. They will present terms to both the tenant and landlord, as well as drafting and amending documentation.

How can I choose the best legal expert for me?

Choosing a legal expert to handle the extension of a lease is an important decision. You may wish to consider a range of factors including the size, cost, reputation and location of a firm when making a decision.

 

Answer a few short questions now and start comparing legal service providers based on the criteria most important to you.

How will a legal service provider charge me?

The extension of a lease is a relatively straightforward process. Legal service providers may charge you on a fixed fee or hourly rate basis, depending on the complexity of your matter and whether there is a need for mediation.