Are rent assessments safe? Stand back, it won`t hurt a bit… We are all human beings and we all make mistakes… Here are two examples of how not to do that, based on rent assessments, from which we can all learn a great deal. Neither the writer nor Colman Coyle participated! The same can be said to the owner. The perfect example is the obligation to repair in the lease. Well-developed commercial leases contain a repair clause that requires the tenant to maintain the property in good condition. What for? Indeed, many rental contracts contain retroactive provisions for the revision of rental prices, which means that even if 10 years of rent fail, the landlord can again value historical rents and serve the demand for unpaid rents. Side-by-Side or gearbox rental: Sometimes a chief renter leases land to an intermediate tenant who develops and drowns. ChiefVoyeur receives a basic rent and part of the rent from subtenants. This scheme is no longer attractive because of stamp duty (LTDS) and land transfer tax (LTT).
Assumption: the rate of assumptions on which the new rent must be calculated. These may or may not correspond to the reality on the ground! A tenancy brake is a written or oral clause in a tenancy agreement that provides for how the landlord can increase the rent. Rent Review Memorandum: The agreed revised rent must be recorded in writing and respected with the tenancy agreement. Go with the date on the owner`s message NOT the date you think you received it to develop your deadline. You must return the counter-announcement to the owner before your time. Service rules generally state that they take place a few days after sending. Don`t wait until the last day, do it as fast as you can. Use registered delivery mail and send an additional copy to the normal mail as backup.
The email is not a good legal service for this, unless the rental contract says so, and it almost certainly won`t. If you simply send it by email, your counter-call is not valid. Also send an email if you wish. If you have a protected lease and you are subject to a legal extension of the tenancy, then part of the process is setting a new rent. The courts use Section 34 of the Landlord – Tenant Act 1954 (“LTA 1954”) to calculate the new rent (or rather the value). Section 34 therefore applies, not the lease brake in the lease. What matters is that section 34 is not just “up” and can go both down and up! Tonneau: Once common in bar rentals and is in fact an old form of turnover rent. (What is a turnover rent? See Part XII) The rent is related to the number of barrels of beer consumed. With regard to the rental brake, it is therefore considered that time is expressed without exception as “essential”, whereas in the event of a break clause, the position is generally completely reversed and the time is expressed in most years as “core” and therefore the deadline must be strictly respected. If a notice of pause is served even one day after the time limit provided by the tenancy agreement, it is invalid and the right to exercise the break, either by the landlord or by the tenant, has been lost.
It is quite common for a pause clause to require that the party exercising it be terminated to the other party “no later than six months before the break date.” Many tenants may be aware that they have the right to take out their lease, the third anniversary of the start of the lease, but they may be completely unaware that they must effectively notify the lessor of the termination no later than two years and six months after the lease begins.