In the second instalment of his new series on lease renewals, Michael Lever focuses on the commercial lease renewal process, covering topics such as the expiration of contractual terms, notice periods, rent reviews, tenant’s rights, landlord’s considerations, and the potential impact of market conditions on the renewal process. Unlike residential property, whose value is generally lower when let, commercial property is generally valued higher. Landlords typically regard the expiry of the contractual term with a mixture of anticipation and…
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