Tenant alterations to a leased property are normally undertaken subject to a Licence for Alterations. This is a legal document annexed to a lease which carefully identifies and records the works to be undertaken and the reinstatement obligations at the lease expiry.
Licences can produce significant and contentious disputes between the landlord and tenant. With our well established expertise in Dilapidation matters, we know that dealing properly with alterations before they are carried out will significantly reduce the scope for dispute.
When acting for tenants applying for licences, we produce the appropriate drawings and develop agreement schedules and specifications for the works.
We also provide life-cycle costing details to enable tenants to fully consider and understand the implications of their proposals, both at implementation and at lease expiry when reinstatement may be required by the landlord.
We act for landlords and review tenants proposed works to ensure that the lease and all legal and statutory implications have been adequately considered to safeguard the premises and the landlord’s interests.
We provide advice that considers the implications of Tenant’s alterations on the property’s value as well as the physical effect on the construction of the building itself.
With our experience, we can assure clients of a thorough examination of Tenants proposals and detailed recommendations to ensure their property interests are safeguarded. For example, comprehensive Schedules of Condition can be key at the licence approval stage.
With an unparalleled understanding of the construction process and the Landlord and Tenant relationship, we have a practical approach to dealing with the issues associated with Tenant works and help in reducing risks and enhancing opportunities.
We can also draft the requisite bespoke License itself, to ensure proposals are undertaken as effectively as possible with the necessary obligations and undertakings included.
Extensive alterations to a building can pose a risk to investment value. Accordingly we deal with the technical and contractual aspects and monitor the works on behalf of landlords and tenants to ensure that: