When disaster strikes
Article Abstract:
Incidents of disasters, such as flooding, have implications for both commercial tenants and landlords. Investment property can be sold during a period when the rent has been suspended, due to damage from a disaster, but tenants may still retain the right to occupy the property. The landlord will usually be liable for taking out an insurance to cover damage from disasters. Tenants will not be obliged to repair damage which is covered by the landlords insurance. Tenants may still have to pay service charges particularly on multi-occupied sites but their rents may be suspended.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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From adversaries to partners
Article Abstract:
Changes in the terms of leases will result in the institutional investor leaving the market allowing for the emergence of experts in property development and management. Tenants and landlords will need to co-operate and work in partnership in order to make the best possible deal for both sides. Contracts to suit individual occupiers should be negotiated and include indexed rent increases rather than open-market reviews. Landlords could provide outlets for outsourcing general maintenance and building services for the tenants and share any profits made from the agreement.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1997
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Beware hidden interests
Article Abstract:
Purchasers of multi-let buildings should ensure the property is not subject to overriding interests. The purchaser is required to request the information from all the tenants and not just the seller. A tenant may own overriding interest which binds the whole building. A case heard in the UK courts found a leasehold interest in a whole building was valid even though the tenant only occupied some offices, under the 1925 Land Registration Act.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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