ABSTRACT
This chapter looks at leases and the landlord and tenant relationship. It considers what a lease is, recognising that a lease is both a legal estate in land and a contract between the landlord and the tenant. The chapter then looks at the characteristics of a lease, typical lease covenants, how a lease ends, and whether the tenant might have a right to remain in the property once the lease has ended.
Leases are affected by a considerable amount of case law and legislation, so the chapter considers key provisions that apply. However, the chapter does not go into detail, as there are specialist texts available. Rather, it aims to provide an overview of this very important aspect of surveying in practice.
At the time of writing, the leasehold sector is subject to proposed reforms, so the chapter is complemented by Chapter 14. Aspects of this topic are also considered further in Chapter 10 Real Estate Transactions.
