How to Handle UK Lease Renewals
(and avoid making costly mistakes)
WATCH THIS VIDEO WITH YOUR SOUND TURNED ON
ALWAYS REMEMBER: Landlords are represented by Agents, whose role is ALWAYS to get the best terms for the Landlord.
So unrepresented Renters start from a position of disadvantage. But they don’t need to be at a disadvantage.
Here are some of the steps that should be taken on the Renter’s side:
You should carefully review the lease, to be sure PRECISELY what needs to be done to renew.
We recommend you start this review at least a couple of months before the renewal date.
Find out what concerns the Renter has about the property. Are there any outstanding repairs or other aspects of the accommodation require improvement?
Now’s the golden opportunity to get them fixed!
Give notice to the Landlord EXACTLY in the way the lease directs & make sure you can PROVE it!
Research the local market to establish the going rents for comparable homes.
What alternative homes could the Renter move to now?
Armed with all this information, negotiate the best renewal terms you can.
Make sure there's a break clause in place in case there's a business need to relocate .
Carefully review any renewal paperwork that the Landlord’s Agent presents you with.
(We frequently find that there are errors or attempts to sneak-in new terms.)
Also watch out for Agents trying to charge you admin fees they're not contractually entitled to charge.
Consider if any Stamp Duty Land Tax is due & pay it on time to avoid penalties.
Diarize any important future lease dates that arise from the contract renewal.
Because Landlords are represented by Agents, the Renter should ALSO be represented.
Renters are busy & don’t have the time to do it properly. They don’t have the necessary knowledge of UK laws or the rental market.
And the same is true of HR professionals who have more important work to do - & other skills.
Saunders 1865 ONLY represents Renters & their Employers. We deal with leases for Renters & Employers day in, day out.
We provide a Lease Renewal Service that saves the Renter, & the Employer, time & money.
We make the process EASY & stress-free.
Call our London office on 020 7590 2700 or use the CALL BACK FORM below to arrange a free consultation with our Managing Director.