The Landlord and Tenant Act 1954 is the primary legislation governing lease renewals in England and Wales. Landlords must be aware of their rights and obligations under the Act to ensure they maintain and improve investment values.
The Act details how a landlord can terminate a lease with a Section 25 notice, and how a tenant can request a new tenancy with a Section 26 notice. It also covers how landlords can oppose renewals and how new rents should be determined.
Document template: Lease renewal process flowchart
RICS standards and guidance: Surveyors acting as arbitrators in commercial property rent reviews
RICS standards and guidance: Surveyors acting as independent experts in commercial property rent reviews