When to start pre-expiry planning
Ideally 12 to 18 months before lease end. Earlier than that, the practical decisions are still some way off. Later than that, the window for cost-effective remedial action is narrowing fast.
What pre-expiry advice covers
- Lease review. Repairing, decorating, reinstatement and yielding-up obligations, plus relevant licences for alterations.
- Property inspection. Realistic appraisal of the current condition against the lease standard.
- Exposure assessment. Indicative cost of works and Section 18 view of the recoverable position.
- Strategy. Strip-out and reinstatement, decorative works, settlement-in-lieu, or hold position.
- Negotiation positioning. Approaches to opening dialogue with the landlord ahead of formal schedule service.
Strip-out and reinstatement decisions
Reinstatement obligations under the licences for alterations are often the largest items in a terminal claim. Whether to strip out and reinstate, or to settle in lieu, is one of the most consequential pre-expiry decisions a tenant takes. We advise on the realistic economics of each route and the implications under Section 18.