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67 Cards in this Set
- Front
- Back
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24a |
INTERIM RENT |
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25 |
LL NOTICE TO END LEASE 6-12 months before expiry. If falling market and overrented allow to hold over. If rising market then order proceedings L wishes to end (hostile) L wish to grant (friendly) |
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s.26 |
T REQUEST NEW LEASE 6-12m. IF LL WANTS TO OPPOSE MUST SERVE COUNTET WITHIN 2M WITH GROUND FOR OPPOSITION |
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s 27 |
T notice to end Lease on 3m notice can be seved before or after contractural expiry |
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s.28 |
RENEWAL OF TENANCY BY AGREEMENT e.g. REGEAR USUALLY REGARDING RENT OR TERM |
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s.29 |
ORDER BY COURT FOR NEW TENANCY |
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s.30 |
LANDLORDS GROUND FOR OPPOSITION OF NEW LEASE |
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32-35 |
TERMS OF A NEW LEASE |
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34 |
BASIS OF VALUATION FOR THE NEW RENT |
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s.37 |
COMPENSATION PROVISIONS |
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38A |
PESCRIBED FORM CONTRACTING OUT
HEALTH NOTICE STATUTORY DEMAND |
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S 40 |
NOTICE REQUESTING INFO ABOUT EITHER PARTY |
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s.44 |
DEFINITION OF COMPOTENT LL |
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16 AVENUE ROAD |
VICTORIAN DETACHED FORMER SCHOOL HOUSE. SINGLE BRICK BUILT BUILDING WITH HIGH INTERNAL CEILING HEIGHT. FOUR EXTERNAL BUILDINGS INCLUDING BRICK BUILDING WITH FLAT ROOF |
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Lease Define |
Exclusive possession Term Rent contract between ll and t by deed creates estate in land |
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Licence define |
permission to do something otherwise illegal are personal arrangements not capable of being assigned |
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Lease V Licence Case |
Street V Mountford - does not matter what document is called if document looks like lease probably is |
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Fixed Term |
usual lease can be statutory or contracted out |
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Periodic |
Automatic from one period to next until terminated |
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Statutory |
Protected by statute ( landlord and tenant act 1954 or part 2 or rents act resi) |
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Contracted Out |
Excludes security of tenure provisions of the landlord and tenant act 1954 part 2 |
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Reversionary |
Rent will change at review or lease revert to landlord at end/renewal |
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Licence |
Short term, typically less than 6 months |
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Tenancy at Will |
occupied at will of landlord ( right to use- however if tenant is in for more than 6months becomes a lease |
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Tenancy at Sufferance |
Holding over without consent |
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Assignment |
Dispose of whole lease (pre 1996 privity of contract, original tenant remains liable) AGA. |
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Landlord and Tenant Covenants Act 1995 |
Introduced AGA |
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Subletting |
A subsidary lease created. Both need permission usually not unreasonably withrld usually subject to conditions |
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Rent Review Pattern |
Typically upward only 3,5 or 7yrs |
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Rent Review Basis |
Often Net Effective rent. 'market rent after the expiry of rent free periods for the purpose of fitting out, |
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Break Clause |
Right to terminate by notice |
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Break Notice Penalties |
Relared to rent. Onerous pre-conditions - Time is of the essence |
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Break Clause effect on Valuation |
Affects certainty of income as potential for voids Analyse: Term and Reversion - investment method Increase yield slightly defer for void after break Valuer may allow for costs |
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Break Clause Case Law |
Marks and Spencer v BNP Paribas 2014 - quaterly in advance rent repaid to M&S by court of appeal |
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Interim rent payable |
Current Lease has ended and the tenant is holding over. LL or T can apply after s.25 or s.26 served Earliest daye new lease effective as per s.25 or s.26 aja 6m after notice seved Market rent of property ftom date of bew lease backdated to interim period |
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s.23 qualifying tenant |
Not contracted out s.38 More than 6m Not tenancy at will not minning or agricultural not licence business tenancy must be in occupation |
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ADR Rent Review |
INDEPENDENT EXPERT OR ARBITRATOR |
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ADR LEASE RENEWAL |
COURT OR PACT |
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RIGHT TO NEW TENANCY |
SAME AS PREVIOUS SUBJECT TO MAX 15YRS SAME TERMS UNLESS GOOD REASON TO DEVIATE O'May test |
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s.24 |
Comes to an end via provisions in the act..Tenancy will continue until L or T serves notice |
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s.30 Ground A |
Breach of Repair |
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s.30 Ground B |
Persistant Delay in paying rent |
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s.30 Ground C |
Other substantial breach |
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S.30 part d |
Suitable alternative accomodation 'non fault' but no compensation payable for successful opposition |
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s.30 part e |
Uneconomic subdivision - non fault |
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s.30 part f |
Demolition Bona Fife non fault |
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s.30 ground g |
Owner wish to occupy - intention - non fault owner must have owned 5years |
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Compensation for non fault (e,f,g) |
less than 14yrs 1 x RV More than 14yrs 2 x RV |
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RR process |
1. conflict of interest. 2.agree TOE 3.Clients objective 4.read lease check if contracted out and understand rr clause 5. check time limits for review 6.check notice requirements and time limits for implementing rr 7. inspect and measure 8. seek out comparables 9.adjust and analyse using matrix 10. value to estimated rental value or basis specified in lease 11. report to client and agree next steps and negotiating stratergy 12.negotiate 13.settle or refer to third party (adr) 14. document and instruct solicitors if required 15. issue invoice 16. diarise next event |
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TURNOVER RENT |
Not usually subject to review % of turnover |
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INDEX LINKED |
USUALLY UPWARD ONLY TYPICALLY RPI BUT TS SEEKING CPI AS LOWER |
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USUAL ASSUMPTIONS |
-hypothetical letting -open market -willing parties -fit for occupation -vacant possession -assumed term ( warrant adjustment depending on conps) -user as stated in lease (plinth properties v mott hay and anderson - user restricted to hypothetical term consulting engineers rent -32%) RR USER TAKES PRESCENDENT OVER LEASE USER - rr date -rental basis (net effective or headline) -subject to all other terms |
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RR DISREGARDS |
TENANTS OCCUPATION GOODWILL RENT FREE FOR FIT OUT TENANTS IMPROVEMENTS WHERE CONSENT OBTAINED ( ponsford vs HMS Aerosols) |
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CALDERBANK LETTER |
CALDERBANK V CALDERBANK 1975 Genuwine offer to settle Without prejudice save to costs not revaled to dispute resolver until dispute made then used to determine costs ("costs awarded to successful party) |
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CALDERBANK USE AND WHY |
RRS PROVIDE OFFER ON CERTAIN BASIS PARTIES BEAR OWN COSTS AND TIME LIMIT FOR ACCEPTANCE PROVIDES FLEXIBILITY PROVES BEST OFFER AS GENJWINR AND COSTS AT RISK IF WRONG - NOT GOVERNED BY STRICT COURT RULES |
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PART 36 OFFER |
CIVIL PROCEDURE RULES ISSUED AT ANYTIME AFTER PROCEEDINGS ISSUED *WITHOUT PREJUDICE SAVE AS TO COSTS* IN WRITING AND CLEAR IN RELATION TO PART 36. CAN BE ACCEPTED ANYTIME UNLESS EXPRESSLY WITHDRAWN IN WRITING IF ACCEPTED THEN OTHERSIDE BEARS COSTS TO THAT POINT |
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WHY PART 36 |
MORE TEMPTING IF GENUEWINE AND PAY THEIR COSTS |
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ARBITRATOR COSTS |
DISCRETION OVER COSTS AND TAKES CONDUCT INTO CONSIDERATION |
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INDEPENDENT EXPERT COSTS |
NO AUTOMATIC AUTHORITY TO AWARD COSTS DEPENDS ON AGREEMENTS OF PARTIES USUALLY SET IN RR CLAUSE |
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DILAPIDATIONS |
END OF TENANCY RETURN TO LL AS SPECIFIED IN LEASE . ANY IMPROVENENTS WITHOUT PERMISION ARE DILAPS |
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BREACH NOTICE |
LL SERVES NOTICE UNDER s.146 LAW OF PROPERTY ACT 1925 WHEN REPAIR NOT COMPILED WITH COMMENCE FORFEITURE. T CAN SEEK RELEIF IF JERVIS V HATIS LL CAN DO WORK AND RECLAIM COST |
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s.18 LL AND T ACT 1927 |
Lls compensation limited to diminuition in value 3 types schedule 1. Terminal (lease termination) 2.Interim 3.Final |
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1927 ACT |
LL NOT UNREASONABLY WITHOLD CONSENT |
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LL AND T 1988 ACT |
ADD TO THE 27 ACT *DELAY* |
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LL AND T 1995 ACT |
PRIVITY OF CONTRACT |
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s.30 Ground Part G CASELAW |
S FRANSES LTD V THE CAVENDISH HOTEL LTD - LL WANT TO REDELOP. SUPREME COURT FOUND LL HAD TO HAVE GENUWINE INTENTUON ( T FRIENDLY) |
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CASE LAW LEASE FRUSTRATION |
CANARY WHARF T1 LTD V ORS V EUROPEAN MEDICINES AGENCY 2019 DID BREXIT FRUSTRATE LEASE? HAD TO PAY RENT AND STICK TO TS COVENANTS |
