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When an existing lease expires, a tenant may have the “option” to renew the lease. Essentially a tenant has the right to have a new lease granted to them on the same terms as the existing lease. However, the rent will be reviewed in accordance with the rent review terms of the existing lease.
So, what should a landlord be aware of when the initial term of a lease is coming to an end?
We have put together a handy checklist for landlords.
It is not uncommon for a landlord to receive notification without warning from an administrator of a corporate tenant advising that the tenant has entered into administration. The following article provides tips for landlords when they have a tenant in administration.
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