Referencing a new commercial tenant?

Referencing a new commercial tenant?

10:11 AM, 21st March 2023, About A year ago 12

Text Size

Hello, I have a long term commercial tenant who is looking to sell on his business on as a going concern. Putting aside the issue of surrendering the existing lease for the minute, what referencing do you do for an incoming commercial tenant?

Not sure if the new tenant will be a newbie starting up from scratch taking on their first business venture, or someone already experienced with an existing business and accounts etc.

Any advice welcome.

Thank you,

Reluctant Landlord


Share This Article


Comments

Julesgflawyer

11:55 AM, 23rd March 2023, About A year ago

Reply to the comment left by Freda Blogs at 23/03/2023 - 10:50
Apologies. "Competent landlord" has a particular and specific meaning under LTA 1954 and as such, Googling the phrase may not be terribly helpful to the OP.

Julesgflawyer

16:49 PM, 27th March 2023, About A year ago

Reply to the comment left by Freda Blogs at 23/03/2023 - 10:50
True. NB the statutory duty under LTA 1988 to consent to a request for consent to assign in most cases, unless reasonable not to so so or to impose (reasonable) conditions. Existence of rent arrears isn't usually a good reason as L has remedy of forfeiture.

Leave Comments

In order to post comments you will need to Sign In or Sign Up for a FREE Membership

or

Don't have an account? Sign Up

Landlord Tax Planning Book Now