Surrender of a lease

What does it mean?

A lease surrender is when a landlord and tenant both mutually agree to bring a lease to an end earlier than the expiry of the term. A lease surrender can be prompted by either the landlord or the tenant. Once a lease has been surrendered, the tenant’s interest reverts back to the landlord.

There is much to consider for both the tenant and the landlord when agreeing to surrender a lease so it is important to negotiate the terms of the surrender to put you in the best possible position.

Even if both the tenant and landlord agree to the surrender of the lease, it is still highly recommended you speak to a solicitor to negotiate the terms of the surrender. Some of the things that need to be considered are the premium payable for the surrender of the lease, whether the landlord will be able to find another tenant in order to keep a steady income from the property.

Our solicitors will ensure that all these factors are considered and whether you are the tenant or the landlord, your best interests will be reflected in the terms of the lease surrender.

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