Frequently asked questions
Lease renewal is typically started by the leaseholder. Their legal representatives will provide an offer (based on a property valuation) which you can accept or counter.
As part of the lease renewal process, the leaseholder is required to pay the freeholder’s solicitor and valuation fees, so as a landlord your costs will be minimal if anything.
You can refuse to renew a lease but only under certain legal grounds, for example if the tenant does not maintain the property, has breached certain obligations or you wish to move into the property yourself. A legal expert can help you if you think you have grounds to refuse.
When a lease runs out, the tenant can continue to live in the property unless you or they decide to end their tenancy.
It’s important to have a property solicitor on board with your lease renewal, as they can help you liaise with your tenant’s legal representatives as well as review the terms of the lease.
