Author: Matthew Weal, Associate, Real Estate Dispute Resolution, London
What do you do if you acquire a site containing problem tenants who may consistently be in arrears of rent or in breach of covenants under their leases? It is understandable in these circumstances that a developer, when becoming a landlord, may want to remove these tenants from the site and obtain vacant possession so as to attract better tenants and generate additional income. Often you hear developers wanting to avail themselves of the forfeiture clause in the lease as a panacea to this problem. However, unless carefully considered, the exercise of this draconian remedy can have some nasty pitfalls.
This is the subject of an e-bulletin we have just published, which discusses some of the issues which any developer landlord should bear in mind before attempting to go down the forfeiture route without first having sought legal advice. If there is anything here you would like to discuss, please get in touch.
For more information please contact:
Matthew WealAssociate, Real Estate Dispute Resolution, London
+44 20 7466 7535