The landlord or the tenant can initiate the lease renewal process. If neither party starts the lease renewal process, the old lease will continue under the same terms for as long as no one serves notice upon the other. This is referred to as “holding over” period.
If the landlord initiates the renewal, a “section 25 notice” is served on the tenant. The section 25 notice will either state the landlord’s proposed terms of the lease renewal or state a reason why they do not want to grant a new lease.
If the parties cannot agree on the new lease terms, either party may ask the court to decide the form of the new lease.
If you are a tenant wishing to initiate a renewal lease, you are entitled to serve a “section 26” notice on your landlord. Again, if the parties cannot agree on the new lease terms, either party may apply to court to decide the terms.
If you are coming towards the end of your current lease, we can help. Our team are experienced in all types of lease renewals and associated contentious court work.
Our firm has helped hundreds of people throughout Margate, Ramsgate, Broadstairs, Birchington, Deal, Dover, Sandwich and Canterbury, and all other areas in Kent, Thanet and the South East of England with their lease renewals.
Get in touch today so we can help you with your commercial lease renewal.