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Category: Leases & Titles
You often hear talk of ‘assigning’ a lease that a tenant holds of a property, with a specific clause in the tenancy regarding the process.
In simple terms, this means transferring the lease to another tenant.
Often a tenant needs to move on and no longer occupy the property. Or cash in and sell the lease interest if it has value, therefore, transfer it to another for payment.
You tend to have a broader alienation clause in the lease, which covers many different ways to part with occupation and responsibility of a lease, including underletting to sub-tenants and shared occupation with a connected party.
One aspect of this you’ll need to look into is how you assign a lease.
Most Types of Property Interests
Whilst most leases with a...
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Category: Leases & Titles
If you have a leasehold interest of a property interest, you’ll come across what is known as an ‘alienation’ clause.
It sounds strange, almost as if something is being separated and alienated.
In a simple sense, that’s what it will do – allow a current tenant and lease owner to transfer it to another party. Therefore, they alienate themselves from the obligations of this tenancy.
The Basics of the Lease Alienation Clause
We’ll get down to the nitty-gritty about these soon, or you can jump down to the Frequently Asked Questions below to find the exact answer you’re after.
But let’s first understand the basics.
Firstly, you don’t always have or need such an alienation clause; the lease can be silent on alienation matters.
So...
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Category: Leases & Titles
Break options and clauses are a popular addition to leases of commercial properties; a handy addition to any lease agreement or contract in real estate that is beneficial for a landlord and tenant.
In the main, you see them most in regular lease agreements of commercial and business premises with a break option in there. However, they can still be within residential longer leases and shorter-term agreements.
What is a Break Option Clause?
When looking at what a break option clause means - they allow one party to terminate the lease agreement before the end of the natural term.
So, the lease may be five years long, however, a landlord or tenant may have the option to end or break the lease after say the third year.
But in terms of what...
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Rent Monies
Here are various blog resources related to the rent that is paid at properties, with sub-category information on Rents here. Whether you're a landlord receiving, tenant paying, or middle-man managing. Right through from how to correctly charge and collect to how it needs to change over time, this is often the most important factor to managing let properties, and includes simular variations such as licence fees.
Non-Rent Monies
Here are various blog resources related to non-rent monies and payments, with sub-categories of service charges, fees, and other monies and costs/charges. These can be directly charged or hidden away, and are important to know what you may have to pay or might be able to charge another property interest for.
Insurance
Here are various blog resources related to the insurance of properties, ranging from the main building cover to ancillary ones like contents, with sub-category insurance ones here. Whether it's the premium to pay or the policy to correctly arrange, these help explain what's needed from the perspective of different property interests.
Sales & Lettings
Here are various blog resources related to the sales & lettings of a property, and all related transactions, with sub-category resources of Sales & Lettings. Whether you're involved in these directly yourself, or you're working with other sales/letting agents and interests, these help highlight important property managemnet factors to consider.
Leases & Titles
Here are various blog resources related to all forms of leases, titles, and legal documentation involved with property interests, with sub-categories for Leases and Titles resources. Whether a straight forward lease agreement or complicated legal documentation, here is help to understand what you're trying to achieve and then practically how to easily do this.
Taxes
Here are various blog resources related to all the taxes involved with property interests, from VAT and SDLT, to income and capital gains, to rates and council tax - chcek out the Tax sub-category. These will help you work alongside other accounting and tax advisors to make sure you cover all bases to reduce your overall tax liabilities.
Services & Compliance
Here are various blog resources related to the services and compliance at a property, with sub-categories of Fire Safety, Security, Cleaning & Hygiene, Health & Safety, Utilities & Energy, Maintenance, Other Services, Facilities, and Planning. These range from say your fire and health and safety compliance, through to services like cleaning and utilitities. These resources help provide an overview of each area without getting too technical, so you can plan it all in at the right time and best cost.
General
Here are various blog resources related to any other general subjects involved with properties and their interests, including sub-categories of Procedures, Principles, and Special Occasions. So whether it's the basics of property management, or more specific property issues and queries that don't naturally fall in the other categories, you'll find them all here.
Condition & Repairs
Here are various blog resources related to the condition of a property and any repairs and alterations required, with sub categories of Condition and Repairs. Whether it's a reactive roof repair, pro-active maintenance plan, or carefully-chosen contractor - these help explain how to effectively keep properties in the right condition.
