Lease Renewal (landlord)

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

If you need to renew the lease with the tenant of a property you own, a legal service provider is well placed to handle documentation and agree tenancy terms on your behalf. Here is some basic advice and 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 a property. Should a tenant wish to extend their lease, their legal representative will begin handling proceedings on their behalf. As the landlord, you will be required to instruct your own legal service provider. 

How long can a lease be renewed for?

A landlord may receive a request to extend the tenant's lease at any time during the leasehold period. The maximum extension that can be applied for by the 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 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?

It is worth considering a number of factors when choosing a legal expert to handle the extension of a lease. You may wish to consider the location, reputation and cost of a firm before making your 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.