A Lease is a valuable asset for a Tenant and, as time passes, the value of the asset erodes.
The Leasehold Reform, Housing and Urban Development Act 1993 (as amended by subsequent acts) provides Tenants with the statutory right to extend their Lease by 90 years and add to the remaining term of the existing Lease for a peppercorn rent.
Applying for a lease extension can be complex and, if not done correctly, can lead to a range of issues. Importantly, a tenant will not being entitled to an extension for a further period of time - until he or she can satisfy the 1993 Act.
We can advise on your rights as a Landlord or Tenant under the Act and can undertake all work necessary for and on your behalf including applying to the Tribunal for a determination of any issues which cannot be resolved by way of negotiation.
To instruct us or for further information about professional Lease Extenstions please contact Reece.Wheeldon@PDCLaw.co.uk.
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