Under the Landlord & Tenant Act 1954 business tenants have security of tenure, which means that they have the right to renew the tenancy when it comes to an end.
There are situations when a tenant does not have security of tenure; for example, if the landlord and tenant have agreed to opt out of sections 24-8 of the Landlord & Tenant Act 1954 before the lease began and have followed the right procedure.
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For example, some tenants may not be aware leases still require Notices to be served within specific time limits and failure to comply may result in substantial penalties. Contrary to some tenants belief a Commercial lease (i.e. one used for business purposes) does not automatically come to an end simply because the original term of the lease has expired. Instead it continues as of right, with the tenant being described as ‘holding over’. There may also be opportunities to negotiate a re-gearing of a lease leading to rental savings and it is therefore prudent to seek early advice and act quickly.
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