1Forgotten or failed to renew your lease?
A tenant’s ability to renew its lease for a further term is an important aspect of the bargain a landlord and tenant strike for the lease of a commercial property. However things can go awry when the parties don’t renew their lease at renewal time. The Property Law Act 2007 (PLA) gives a tenant the ability to go to Court for an order renewing its lease if its landlord refuses to renew it. This can be a saviour for a tenant but it means that a landlord needs to tread carefully if it wants to end a lease that has not been renewed.
