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Rent & Rent Review Clauses RENT
1. Is the amount of rent certain?
a. Determined by rent review?
b. Insurance premiums?
d. Service charges?
2. Does the lease set out date from which rent is payable?
a. First payment date?
b. General payment dates?
3. Is there a rent suspension clause?
a. If premises damaged or destroyed so cannot be used by tenant
4. Does the lease provide for interest on late payment by the tenant?
5. Does the lease provide for VAT - is it included in Rent or over & above?
6. Has tenant breached rent clause a. Is there a guarantor?
a.i. 17 LT(C)A 1995 serve notice of claim upon former tenant or guarantor within 6 months of current tenant's default a.i.1. Failure to serve valid notice will result in landlord being unable to recover sum from person concerned a.i.2. Only 6 years' arrears of rent are recoverable
7. Remedies against former tenants or sub-tenants a. 17 LT(C)A 1995 serve notice of claim upon former tenant or guarantor within 6 months of current tenant's default a.i. Failure to serve valid notice will result in landlord being unable to recover sum from person concerned a.ii. Only 6 years' arrears of rent are recoverable a.iii. 18(2) LT(C)(A) 1995 former tenant not liable for full rent if it has increased as a result of a rent review - apportion the amount correctly b. Is sum owed greater than PS750?
b.i. Landlord can start insolvency proceedings against tenant c. Distress c.i. Enter the demised premises & seize chattels to the value of the debt d. 6 Law of Distress Amendment Act 1908 if there is a sub-tenant then superior landlord can serve notice on sub-tenant requiring him to pay rent to superior landlord until arrears paid off e. Forfeiture e.i. See lease for forfeiture clause e.ii. Also if residential property then have issues with eviction
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