Mixed Use Property Legal StatusMake Text Bigger
I purchased a mixed use property (residential flat upstairs and a hairdressers downstairs) at auction. The deposit held was passed to me by the vendor as part of the exchange. I inherited an existing commercial lease which leases the whole property to the two tenants.
- Do I need to register the deposit with a regulated body even though it has not been registered previously?
- The lease states that if the rent is more than 14 days late the “landlord may re-enter the premises and thereupon the Term is to cease absolutely but without prejudice to any rights or remedies that may have accrued to the Landlord against the Tenant or the Guarantor in respect of any breach of covenant or other term of the lease, including the breach in respect of which the re-entry is made”. Does this clause allow me to take back the property without any legal notices?
Any comments greatly appreciated.
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