If you want to extend a lease with the tenant of a property you possess, a solicitor is highly recommended to manage the paperwork and agree on heads of terms on your behalf.
Here is some helpful advice in helping you find the right solicitor for you
The party leasing a property typically starts the lease extension procedures. Should a tenant want to extend their lease, their legal representation will start managing proceedings on their behalf. As the landowner, you will be required to instruct your own solicitor.
A landlord may get a request to extend the tenant’s lease at any time during the leasehold term. The maximum extension that can be applied for by the tenant is 50 years on the house and 90 years on a flat. There is no minimum leasehold extension period; this can be agreed between you and your tenant.
Your solicitor will liaise with both parties to ensure that the extension of the lease is completed quickly and efficiently. They will offer terms to the landowner and tenant both, as well as drafting and altering documentation.
It is worth considering several factors when choosing a legal expert to handle the extension of a lease. You may want to consider the reputation and cost of a firm before making your decision.
How Will A Solicitor Charge Me?
An extension of a lease is a straightforward procedure. A solicitor may charge you on a fixed fee, or fixed hourly basis, depending on the complexity of your matter and whether there is a need for negotiations.