Make no mistake, the pub lease renewal process is very technical and strategic in nature. Any kind of error could be VERY expensive or fatal to a business.
Use of a SPECIALIST solicitor is fundamental, some Pub Companies have been varying leases under the guise of “modernisation” to a degree which is fundamentally unfair. Only an experienced solicitor will know what is fair and reasonable. We can recommend an experienced solicitor if requested. We recommend on value for money and expertise.
NB Landlords are NOT allowed to charge legal fees for a lease renewal.
The Lease Expiry and Renewal process is an important opportunity to “re-set” upward only rents to market level. Professional representation is absolutely vital to ensure a fair outcome.
All parties should consider taking advice 18 months ahead of a lease end date to ensure that a strategy is in place well before discussions commence.
Please also note that tenants should keep dilapidations under control throughout the tenancy. Dilapidations can be used as fault grounds for a landlord to object to a new lease without compensation. Understanding your options early can enable pre-emptive strategies to be implemented in good time.
Do not forget that if you are a tenant of one of the big pub companies (500+) you could also have an opportunity to request a Market Rent Only option. See MRO web page
If you are served with a notice you can not ignore it. If a tenant fails to protect his position he will risk losing his Landlord and Tenant Act rights to the protection of his tenancy. Always use a RICS regulated company or specialist solicitor to ensure a satisfactory standard of service.
If you do not serve notice to start the lease renewal process, you can effectively “hold over” on a rent that is higher than you should be paying. IE. if you do nothing you will carry on paying a rent that might be too high.
Many tenants are concerned about the costs involved, Pub Innsite can provide flexible and value for money terms.
For a no obligation discussion please contact us at your convenience. We should be able to clarify if our assistance will be cost effective. We always aim to provide value for money to the degree there should be a cost benefit reward.