Maximising the benefits of short or long lease property
‘If your tenants are organised they can act together to ensure their leaseholds are secure’
The freehold on your property is an appreciating asset. It’s one that grows in value, so the shorter the lease the better from a landlord’s point of view. However, your tenants would prefer a long lease property and may have other ideas – and they are within their rights to make certain demands.
Right to manage guidance and other advice
When it comes to the length of leases and freehold, your tenants have certain rights under the law as it currently stands.
- They have the right to make you grant them a lease extension
- If they act together they can make you sell them the freehold – providing they pay you a fair price
- They can take over management of the building under the Right to Manage
Our property disputes team can provide a range of expert services such as ‘right to manage’ guidance. They will assess your situation and advise whether you need to give up your asset or if there is a way to avoid this situation altogether. If you have to surrender your asset, they can help you achieve the best premium.
Click here to read our factsheet for more information about lease extensions and sale of freehold.