Michael Goldfinch Archive

Commercial sense prevails for contracting out of LTA '54 leases

The Landlord and Tenant Act 1954 (“LTA”) is not a new piece of legislation. It grants commercial tenants statutory rights, giving them the right to renew their lease on substantially the same terms if they remain in occupation at the end of the term. Landlord and tenants can contract out of these rights and the law was revised by the Regulatory Reform (Business Tenancies) (England and Wales) Order 2003 giving landlords greater flexibility in how to manage their property.

Leases, licences and the growth of space on demand

The market for on demand space, such as hot desks, is growing. Start-ups, especially technology-driven businesses tend to start small and need very little space while they incubate. After that initial phase, if they succeed they tend to grow explosively and need lots of space quickly. These two contrasting needs mean that these businesses require great flexibility. This need for flexibility is fuelling the growth of the on demand space market.

What is a virtual tenancy?

People need space to live, businesses need space to work, technological advances mean that many businesses’ space needs are minimal. In an increasingly digital economy, certain businesses – especially fledgling or smaller businesses – can be run from a single laptop. This could be anywhere from a coffee shop to the entrepreneur’s kitchen table.
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