Rewriting Lease Terms – What Can be Achieved at Renewal
Tenants are increasingly looking to rewrite leases, to reflect the impact of COVID, or simply to give flexibility to react to an every-changing world. One opportunity to do this is lease renewal, and a number of recent county court decisions have given valuable guidance on whether flexible terms are available in this way, whether it is a change to rent arrangements, a shorter term or insertion of a break option, a pandemic rent suspension clause, or another of the range of terms which tenants are now asking for. This session outlines the approach which the courts are taking on these issues and others, which in turn sets the parameters for negotiation.
Module Duration: 1 hour 8 minutes
- Can the court order a term longer than the tenant wants?
- On what basis might a break option be inserted?
- How do turnover rents fit in with lease renewal?
- What is regarded as ‘reasonable updating’, and what changes go too far?
- Does a pandemic rent suspension clause impact upon the rent?
- Should rent upon renewal take account of rent-free periods available in the marketplace?
- Mark Shelton, Commercial Property Management Law Trainer, CPM Law Training Limited and Author of 'A Practical Guide to the Law of Dilapidations' and 'A Practical Guide to Applications for Landlords' Consent and Variation of Leases'