Property : Leases and Tenancies
Essentially, these transactions fall into two types, residential or commercial, and can usually be viewed from one of two perspectives, that of the landlord or the tenant.
The position of the landlord or tenant under a tenancy agreement is largely the result of political ideology. The security of tenure (right to remain in the home) position of the tenant has been eroded over the years by a series of statutory enactments made with the intention of increasing the supply of houses into the private rental sector by making the conditions more favourable to the landlord. Landlords should still appreciate however that it can be an expensive process to retrieve your property from an unsatisfactory tenant.
Conversely the rights of the tenant during the continuation of the tenancy have been strengthened. Landlords and tenants should be aware of their obligations and rights. As always, it is preferable to seek advice before entering into such arrangements but questions arising during the tenancy will have an answer. The answer may be good or bad but Carrick Read will be happy to assist you with any such questions.
Commercial property leases can often exceed 60 pages in length. They are invariably very complex and the obligations undertaken by tenants can be frightening. It is vital for landlords and tenants to contact their legal advisors as early in the process as possible, preferably before entering negotiations. Landlords should appreciate the great advantage to them of having a correctly drawn Lease in place but they should also understand the seriously large bear traps that await them if they attempt to assert their rights in the wrong way.
