An example of an otherwise ideal prospective tenant who cannot offer a strong covenant would be a reputable foreign-based company with few, if any, assets in the UK. As thoughts turn to guarantees and other forms of security, it could be just the time to get a quick rundown on how these compare in terms of flexibility and cost – which is precisely what is offered by solicitors Jessica Bailey and Emma Slessenger, of Dechert, in
Their account of rent deposits comes with a timely warning that problems can occur on a later assignment of the reversion. Whether the duty to repay the deposit falls on the outgoing landlord or his assignee may depend upon whether the lease is “old” or “new” for the purpose of the Landlord and Tenant (Covenants) Act 1995.
An example of an otherwise ideal prospective tenant who cannot offer a strong covenant would be a reputable foreign-based company with few, if any, assets in the UK. As thoughts turn to guarantees and other forms of security, it could be just the time to get a quick rundown on how these compare in terms of flexibility and cost – which is precisely what is offered by solicitors Jessica Bailey and Emma Slessenger, of Dechert, in Landlord’s security blankets Estates Gazette 2 December 2000, p115.
Their account of rent deposits comes with a timely warning that problems can occur on a later assignment of the reversion. Whether the duty to repay the deposit falls on the outgoing landlord or his assignee may depend upon whether the lease is “old” or “new” for the purpose of the Landlord and Tenant (Covenants) Act 1995.
