The Practical Lawyer

The ‘registration gap’ continues to cause problems.

The RICS has published the proposed changes to its Code of Practice on service charges. The important change is that RICS members must act in accordance with eight core principles; the Code is no longer just advisory as to best practice (although it does contain broad ‘best practice recommendations’).

Two of the grounds on which L can oppose T’s application for a renewal lease are:

A sale and leaseback involves the sale of a property to a third-party investor for a lump payment, immediately after which the investor then leases the property back to the seller for an agreed period in return for the payment of rent. The seller therefore no longer owns the asset but can use it for business purposes.

A note from Eversheds Sutherlands notes some perceived changes in drafting approaches over the last decade or so:

Any rent review timescale must be strictly complied with. Moreover, even if there is no express time limit set out in the lease, the court may be willing to imply time limits for reasons of ‘business efficacy’ – with T then being able to serve a notice making time of the essence in respect of those implied (or even express) time limits. That much is well known.