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If you act on behalf of T who is renewing a lease with LTA 1954 protection, it is important to consider the issue of interim rent (ie the rent that will be paid between the expiry of the existing lease and the start of the new lease). Traditionally, the interim rent will usually be the same as the rent under the new lease, but in the current economic climate it is quite possible that the rent could be considerably lower than the current passing rent. If so, T will want the interim rent to start on the earliest date possible (ie the day after the contractual expiry of the existing lease), and in order to achieve that it will be necessary for T to serve an s26 request at least six months before the contractual expiry date. Source: DLA.
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January 2009 |
