Landlord and Tenant

 

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Purpose of the L&T Act

The principal legislation currently in force is the Landlord and Tenant Act 1954 (the 1954 Act). This was developed to provide security to the occupiers of business premises whose position became uncertain as landlords and developers sought to redevelop town centres following the disastrous effects of the Second World War.

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Before carrying out the work

Competent

PPI

Conflicts

Terms - Fee - Instruction - Complaints Handling - Money Laudering Regs - WRITTEN CONFIRMATION

Request Docs - Signed Lease - Deedsof variation - Licences for alteration - Side Agreements - Previous RR memos

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Lease

Study the lease - Rent Review Clause

Terms of Hypothetical Lease to be valued

Rent review machinery

Notice Provision

Time limits (Time of the Essence)

Formal Memo

Method to resolve dispute

Any unusual clauses that require further legal advice

ADVICE GIVEN IS BASED ON DOCUMENT SEEN

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Inspection & Measurement

Know beforehand -

Demise of the premises to be valued

Existance of any imporvements to disregard

Inspect - All features of the property (Inc Condition)

Observations of the surrounding area

Measure in accordance with RICS Code of Measuring Practice

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Report to Client

Include...

Location

Description

Lese Terms

Comps

Valuation

Reccomendations

Confidentiality Statement

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Negotiations

Serve required notices

Mark all correspondance Without Prejudice

Calderbank offer - 'Without Prejudice save as to costs'

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Agreement

Prepare RR Memo in compliance with requirements of the lease

Interest to be paid in accordance with review provisions

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Unable to reach agreement

Third party determination - in the lease - procedure for appointing

Arbitrator

Independant Expert

Make Application for thrid party

Prepare Expert witness reports - in compliance with RICS Guidance Notes, Surveyors acting as expert witnesses/Surveyors acting as Arbitrators and Independant Experts in Commercial Property Rent Reviews

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