Archive for: How to guides
Who is Responsible for Repairs?
When leasing a commercial property, there are different types of repairing liabilities which put different amounts of responsibility on the landlord and tenant. Full Repairing and Insuring Lease (FRI): This is the most common type of repairing liability within commercial property lettings. FRI means the tenant is responsible for maintaining, repairing and insuring the entirety […]
How Much Rent Should I Pay?
Usually the rents displayed on property details will be shown as ‘per annum’, which means yearly. Landlords won’t usually expect the rent to be payed in one lump sum however and will usually collect rents either quarterly or monthly in advance. Quarterly rents are collected in 4 instalments every 3 months. Rent will usually be […]
The Commercial Leasing Process
So you’ve found a property you want to lease, what next? Step 1 – Once you have viewed the property and decided you would like to proceed the first step is to make an offer to the agent, it is preferential for you to make the offer in writing (an email is fine). Points to […]
What is an Expert Witness?
An expert witness can be appointed by one party to provide their expert opinion on a specific dispute. Alternatively they can be appointed as a single joint expert, which means they are appointed by both parties to give their opinion on a specific area of dispute. The duty of an expert is to help the […]
What is Adjudication?
Adjudication is a form of dispute resolution used in construction contracts; it is generally shorter than arbitration and has a strict timetable based on the provision of documents, it is designed to protect cash flow during construction. It generally covers claims relating to interim payments, delay and disruption of the works, extensions of time, defects […]
What is Arbitration?
Arbitrators are often appointed to resolve disputes in preference to court proceedings. It is a formal process that involves the appointment of an arbitrator by agreement between the parties or application to the RICS. The arbitrator considers evidence presented by both sides and bases their decision on this evidence. The arbitrator’s award is enforceable in a […]
When do I need a Charity Act report?
Charities must obtain appropriate advice when acquiring or disposing of interest in property from someone who has the ability and experience to do so competently, acting exclusively for the Charity and who will ensure that the Charity can be satisfied that the proposed Terms are the best that can reasonably be obtained. For acquisition or […]
Inside or Outside?
One of the key roles of the 1954 Landlord & Tenant Act was the introduction of Security of Tenure. This means that the Tenant has the right to remain in occupation of the property if the lease has expired and is inside the provisions of the 1954 Act. This is referred to as ‘holding over’. […]
To Re-Gear or Not to Re-Gear, Is That the Question?
We are all of course aware of the economic downturn which the country encountered but one potential benefit which has come from this has been the increased dialogue between Landlords, Tenants and their relevant representatives. During a financially difficult economic climate, the majority of parties have recognised that they have a mutual dependence in order […]
Benefits of Rent Review and Lease Renewal Portfolio Management
Market sentiment across all sectors has improved over the past 12 months and although a time to celebrate, it is imperative that Landlords and occupiers continue to manage all forthcoming lease events (Rent Reviews, Lease Renewals or break options) carefully and strategically. This is a key service that we offer and one that in the […]