If you are a managing agent of a block of flats who has been approached by a number of tenants regarding the extension of their leases, LEASE Law can work alongside you to administrate and manage a group lease extension claim to ensure that the transactions proceed as smoothly and quickly as possible.
LEASE Law are specialist solicitors who can act on behalf of the tenants in respect of the legal requirements for making a group lease extension claim. In the vast majority of cases, we are able to offer a fixed fee for acting for the tenants and we are able to offer discounted fees for group lease extension claims.
The work that we will carry out for the tenant includes preparing and serving the initial notice on the landlord, receiving the counter-notice from the landlord, negotiating the terms of the new lease, completing the lease extension and registering the new lease at HM Land Registry. We will also liaise with the tenant’s valuer in respect of the premium as and when necessary.
If you act for a freehold company where the freehold is owned jointly by the tenants or a company owned and managed by the tenants, we can act for the freehold company to extend the tenants leases to 999 years. We recommend that the leases are extended as soon as possible after acquiring the freehold to ensure that neither the landlord or tenant are subject to any adverse tax consequences and to avoid any delays when any tenant wishes to sell or remortgage.
We would be willing to attend an initial meeting without charge, either virtually or personally (if the block is in London or Kent), with the tenants to discuss the lease extension procedure, advise of the benefits of a lease extension and answer any questions that the tenants may have.
We can recommend specialist lease extension valuers (if required) who have extensive experience and expertise in this area to ensure that the premium that each tenant pays for their lease extension is as low as possible. The valuer will provide each tenant with an initial report which will advise them on the premium that they can expect to pay following negotiations and will also recommend the offer premium to put into each tenant’s initial offer notice. The valuer will also negotiate the premium with the landlord’s valuer on behalf of the tenants following the service of the initial notice.