Asking for a reduction in rent

Chubster · #1 30-10-2008, 08:08 PM

How would you go about this....letter to the landlord, telephone call?

Any pointers on what to say not say ?

#2 30-10-2008, 08:26 PM

OK...first thing to remember is you will be expected to pay for both your and your landlords legal costs in this...with no guaranteed success. So allow ?1.5 to 3k of costs....assuming you are up for that..

Yes write to them.

Chubster · #3 30-10-2008, 08:30 PM

3k costs to ask for ?500 per quarter reduction...will give that a miss then

#4 30-10-2008, 08:35 PM

You are basically asking for the lease to be rewritten... unless you are friendly with a solicitor, I expect you are looking a mimimum ?750 from yours and theirs. Sorry mate. You could represent yourself, but I doubt you will be able to cap theirs, especially as they have nothing to gain.

Chubster · #5 30-10-2008, 09:10 PM

I keep thinking about asking the landlord if he is interested in selling.

To cut a long story short we leased the shop off William Hills, whose lease was supposed to run to 2010....we are outside of the tenancy agreement so not 100% sure whats going to happen at the end of our 3 year term? We are currently paying 10k a year

My ideal situation would be to buy the shop of him and then convert back to a house....(once we have found a suitable replacement shop) We are the only commercial property left down our road, others have over time been converted back to houses so could possibly get planning for this....

Sorry just rambling now...

#6 31-10-2008, 07:11 PM

When you say you are outside of the tenancy agreement, have you had the lease assigned to you?

Chubster · #7 31-10-2008, 07:16 PM

Erm...what does that mean. Our name is on the lease?

Chubster · #8 31-10-2008, 07:25 PM

Just thinking back....we deffo signed something to accept the fact that we were outside the tenancy agreement.

#9 31-10-2008, 07:29 PM

Quote:

Originally Posted by Chubster

Erm...what does that mean. Our name is on the lease?

I would be surprised that William Hill would take on a lease outside the Tenancy Act, in all modern leases you have a right to renew at the end of the lease, but leases that are strictly outside the 1948 tenancy agreement have no right of renewal. I am guessing that William Hill will still hold the master lease and your lease is an assignment of theirs...it is unlikely the landlord will have let a company William Hill walk away completely.

If you are in doubt, by all means feel free to photocopy your lease and send me a copy mate and I can advise you on it.

Chubster · #10 31-10-2008, 07:34 PM

Very kind Sir...

We were originally going to sub lease of William Hill but during the coarse of sorting it out the landlord and William Hill came to some "arrangement" and we took a new lease on for the remainder of the term. In this case 3 years.

This is off the top of my head, I will dig it out and have a look

Asking for a reduction in rent

General Business Questions and Discussion