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If you are a managing agent and have been approached by a tenant requesting a Licence to Assign from the landlord, we can act for the landlord in relation to considering the request and granting the formal Licence to Assign. We can work alongside you to ensure that the transaction proceeds as smoothly and quickly as possible.
A Licence to Assign will be needed if the terms of the lease requires the tenant to obtain the landlord’s consent prior to assigning their lease. We will check the specific terms of the lease and advise the landlord of any conditions that should be satisfied prior to entering the licence.
Before approving the assignment we would liaise with you/the landlord to confirm:-
- That the ground rent and service charges are paid up to date;
- That the assignee is able to comply with the terms of the lease following the assignment, therefore often a personal and financial reference will be obtained for the assignee.
- That the assignee will have an address for service in England and Wales; and
- If the assignee is intended to be an individual who resides aboard or a company whether it would be advisable to obtain a security deposit or a guarantor for the assignee.
The landlord’s costs will be paid by the tenant. We will always obtain an undertaking for our legal costs for acting for the landlord from the tenant’s solicitors before commencing any work.
If you would like us to assist with a Licence to Assign, please do feel free to contact us for a free no obligation discussion. Please contact Jade Thomas (jade@leaselaw.co.uk or 0204 511 9100) or Joanna Botley (joanna@leaselaw.co.uk or 0204 511 9101).
