Lease Re-Gearing - Navigating the Technical Minefield
Government continues to urge landlords to find compromises with their tenants over arrears built up during the Covid-19 pandemic and lockdowns, now with a fallback of binding arbitration. Even without this pressure, landlords have shown themselves ready to accommodate tenants with concession agreements of one sort or another. The upshot is, inevitably, a flood of lease variations.
These matters may look routine, and clients expect them to involve a minimum of fuss and expense, but they can raise a number of technical issues, and will require bespoke drafting. Getting things wrong can involve the inadvertent release of guarantors, conferring security of tenure, adverse impact on rent review, and additional SDLT liability.
What You Will Learn
This live and interactive session will cover the following:
- The unintended consequences of lease variations
- Friends Provident v British Railways, Holme v Brunskill, and other bear-traps
- Adding to the demise by supplemental leases
- Complexities of reversionary leases
- Formalities of documentation
Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.