Is the property residential, commercial or of mixed use?
Questions for all types of property
- For how long do you wish to let the property?
- What will be the annual rent?
- Do you require a premium?
- Will the tenant be expected to contribute towards the cost of insurance, the cost of repairing the building or of maintaining common parts?
- Are there any existing leases for other parts of the building? If so the new lease must not clash with existing obligations or rights.
- Will the lease be a replacement to an existing agreement?
- Is the proposed tenant already in occupation of the property?
- What do you wish to do with the property at the end of the lease?
- Do you intend eventually to significantly alter or demolish the property?
- Are you the freeholder or a leaseholder of the property?
- If a leaseholder, does your lease permit you to sub-let the property?
- Will this be a sub-letting of part in which case does your lease permit sub-letting?
- Will you be appointing a managing agent?
- Is your property subject to a mortgage? If so do your mortgage terms require that you obtain your mortgagee's consent?
- Will you need a deposit or guarantee?
- Are there any outstanding dilapidations issues to be sorted?
Questions for Residential Property
- Will the tenant be an individual and if so will he or she be occupying it as his or her main residence?
- Is the property your former home and do you want to use it again as your home at the end of the lease?
- Are you already a member of a tenancy deposit scheme?
- Is the property classed as a House in Multiole Occupation?
Questions for Commercial Property
- Are you VAT registered?
- Do you wish to exclude the provisions of the Landlord and Tenant Act 1954 i.e tenants right to security of tenure?
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.