Understanding Landlord Competency in Lease Renewals

In this episode of 'That Retail Property Guy,' host Gary Marshall explores the legal competency of landlords under the 1954 Landlord and Tenant Act, as usual from the tenant's perspective. He discusses renewal rights under the 1954 Act, with potential consequences for tenants who are not in occupation for business or when dealing with subleases. He highlights the possibility for a new landlord to insert themselves into the chain of competency – with ensuing risks for the occupying tenant. Marshall highlights the criticality for tenants in identifying their true landlords, highlighting the importance of serving Section 40 notices to obtain robust data, and mentions the '14 month rule,' which determines a landlord's legal competence at lease-expiry to grant or oppose new leases.

00:00 Introduction to Retail Property Insights

00:41 Landlord Competency Under the 1954 Act

01:48 Identifying the True Landlord

03:35 Section 40 Notices and Tenant Rights

04:34 The 14-Month Rule Explained

05:24 Intermediate Tenants and Subleases

07:52 Landlord's Rights and Grounds for Possession

09:32 Case Study: Wicks vs. Marks and Spencer

10:45 Managing End of Lease Scenarios

13:56 Conclusion and Final Thoughts

The Times article: https://www.thetimes.com/business-money/companies/article/retailers-resort-to-ungentlemanly-tactics-in-uk-turf-war-870h6pb76

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