27 November 2024
The Law Commission has published its first consultation paper on the right to renew business tenancies under the Landlord and Tenant Act 1954.
Currently, business tenants have a right to renew their tenancies when they expire, under certain conditions, but can ‘contract out’ of the right when the tenancy is granted.
The consultation, ‘Business tenancies: the right to renew’, published last week, seeks views by 19 February on how well the law is working.
Law Commissioner Professor Nicholas Hopkins said: ‘The existing model of security of tenure was introduced decades ago, when the commercial leasehold market looked very different.’
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