Assignment & Sub-letting - The Important Formalities
For any tenant wishing to dispose of their premises and terminate their rental commitment, it is a priority matter which they need to progress quickly and smoothly. For the landlord, there is a need to consider carefully all the implications, as to the user of the property, any associated alterations, and above all the character of the proposed assignee or sub-tenant, and whether they are of sufficient financial strength.
While the lease terms give the landlord some control, statutory interventions and case law have also given the tenant a useful range of weapons to use in order to get the result they want. It is not only the landlord’s answer which is potentially contentious, but also the conduct of the application, and there are important formalities to get right.
This area of law continues to generate important case law, and anyone involved in this sort of work, solicitor or surveyor, needs to be on top of it.
What You Will Learn
This webinar will cover the following:
- What information needs to accompany the application
- How applications should be made
- How to manage requests for further information
- How landlords can progress the matter while preserving their options
- Dealing with applications while not waiving a right to forfeit
- Assessing a ‘reasonable time’
- Can the tenant dictate the timetable by telling the landlord that it is urgent?
- Does the tenant have any effective way of resisting the costs demanded by the landlord?
- Can a landlord ever object to an underletting on the ground of covenant strength?