Best Discrimination Solicitors in Braintree

Business tenancies explained Kavita Rana, a solicitor at Edwards Duthie, on the tricky issue of business lease renewals The Landlord and Tenant Act 1954 governs business tenancies and has been in force for over 60 years. What does the Act mean in the world of commercial leases? The Act governs the rights and obligations of landlords and tenants of premises occupied for business purposes. At the end of the lease, a business tenant has the right to remain in occupation and can apply to the Court for the grant of a new lease, but the landlord’s right to possession still exists under certain circumstances. That can result in compensation payable to the tenant (calculated on the number of years of occupation). Compensation will rarely cover the tenant’s actual costs in having to relocate and will never cover any loss of goodwill built up where a tenant has been in occupation for some time.