Rental meaning

This Checklist This Checklist explains the actions property solicitors must take to perfect security in a real estate finance transaction. Real estate finance lenders will typically seek a comprehensive security package over all assets connected with the real estate. A real estate solicitor within a multi-disciplinary team will commonly arrange or contribute to the following securities and documentation: security over the land, rental income, insurance proceeds, development and construction, and contractual rights reviewing the management agreement and negotiating a duty of care agreement (although in a multi-disciplinary team, this is sometimes handled by the banking and finance lawyer) dealing with completion undertakings and post-completion registration of the legal charge at Companies House and HM Land Registry, as well as giving third party notices regarding rent payment, notice of charge and, where necessary, assignment of contractual rights or warranties See Practice Notes: Security in real estate finance transactions, Taking security over land and Taking security over unregistered land and Taking and perfecting...

This Checklist outlines a non-exhaustive set of points to assess when a landlord gives notice under section 13 of the Housing Act 1988 (HA 1988) to change the rent payable under an assured periodic tenancy in the private rental sector from 1 May 2026 onwards... Initial considerations Verify the tenancy is an assured tenancy (AT) under HA 1988. Ensure the AT criteria are met and none of the exclusions apply (for example, tenancies granted by local authorities, business tenancies or holiday lets). See Practice Note: Private sector assured tenancies-granting-Criteria for an AT Confirm that more than 52 weeks have passed since the date the first period of the AT began, or since any previous rent determination took effect. The landlord cannot begin the process to alter the rent until after this timeframe Check whether a notice under HA 1988, s 13 to change the rent was served before 1 May 2026. If so, the transitional provisions under the Renters’ Rights Act 2025 (RRA 2025)...

Scope and purpose This Checklist outlines the principal points to consider when preparing, assessing or agreeing an equipment hire agreement. Equipment hire agreements are also known as equipment leases, equipment rental, operating leases or finance leases. For simplicity, this Checklist adopts the term equipment hire agreement. It is written from the viewpoint of the hiring customer under the equipment hire agreement. See also the accompanying Precedents: Equipment hire agreement—pro-customer and Equipment hire agreement—pro-supplier. The Checklist highlights matters intended to safeguard the hiring customer’s (or lessee) interests in relation to an equipment hire agreement prepared by the supplier (or lessor) (as is typically the position with equipment hire agreements). Expressions such as ‘lessor’, ‘lessee’, ‘hirer’ and similar can be unclear within these sorts of arrangement. In this Checklist the ‘hiring customer’ or ‘lessee’ is the party taking the equipment on lease, and the ‘supplier’ or ‘lessor’ is the party who provides the equipment and in turn receives a rental fee. This Checklist addresses business-to-business dealings only and does not cover...

This Flowchart sets out the consumer cancellation rights that must be made available to consumers entering on-premises contracts, off-premises contracts and distance contracts for the supply of services Use this guide when a practitioner needs to verify which cancellation entitlements apply to consumers purchasing services in accordance with the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, SI 2013/3134 (CCR 2013). Note 1—a consumer is an individual acting for purposes that are wholly or mainly outside their trade, business, craft or profession. Note 2—certain sector-specific contracts are regulated separately, such as financial services contracts, rental contracts and package travel contracts, and are excluded in full from the CCR 2013. For more information, see Practice Note: Distance, doorstep and on-premises sales—Excluded contracts...

Flowchart This Flowchart explains the cancellation rights that must be offered to consumers who enter into on‑premises, off‑premises or distance contracts for the sale of digital content. It is intended for use when a practitioner needs to confirm the cancellation rights available to consumers purchasing digital content in line with the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, SI 2013/3134 (CCR 2013). Note 1 — a consumer is an individual acting wholly or mainly for purposes outside their trade, business, craft or profession. Note 2 — certain sector contracts are governed by their own rules, including financial services contracts, rental contracts and package travel contracts, and are completely excluded from the CCR 2013. For more information, see Practice Note: Distance, doorstep and on‑premises sales — Excluded contracts...

Flowchart This Flowchart explains the cancellation entitlements that must be offered to consumers entering on-premises, off-premises, and distance contracts for the sale of goods. It is intended for use when a practitioner needs to confirm which cancellation rights apply to consumers purchasing goods in accordance with the Consumer Contracts (Information, Cancellation and Additional Charges) Regulations 2013, SI 2013/3134 (CCR 2013). Additional rights relating to the return of faulty or damaged goods under the Consumer Rights Act 2015 fall outside the scope of this Flowchart. Note 1 A consumer is an individual acting for purposes wholly or mainly outside of their trade, business, craft, or profession. Note 2 Certain sector-specific contracts are governed by their own regimes, such as financial services contracts, rental contracts, and package travel contracts, and are excluded in full from the CCR 2013. For more information, see Practice Note: Distance, doorstep and on-premises sales—Excluded contracts...

In this issue: Sustainable finance and ESG weekly round-up Economic Crime and Corporate Transparency Act 2023 Lending Acquisition finance Shipping finance Real estate finance Sustainable finance Debt capital markets Derivatives Regulation for banking lawyers Sanctions Daily and weekly news alerts New and updated content Useful information Sustainable finance and ESG weekly round-up For a summary of this week’s Sustainable finance and ESG developments, see Sustainable finance and ESG weekly round-up—14 November 2024. Economic Crime and Corporate Transparency Act 2023 Economic Crime and Corporate Transparency Act 2023 (Commencement No 3) Regulations 2024 (SI 2024/1108): Provisions in ECCTA 2023 on civil recovery of cryptoassets in Scotland took effect on 7 November 2024, and measures introducing the UK-wide offence of failure to prevent fraud will commence on 1 September 2025. See: LNB News 07/11/2024 12. Unique Identifiers (Application of Company Law) Regulations 2024 (SI 2024/Draft): These draft Regulations would widen...

In this issue: Key developments and horizon scanning Leasing property Statutory compliance Property development Property taxes Property in Wales LexTalk®Property: a Lexis®Nexis community Additional property updates this week Daily and weekly news alerts Trackers New Q&As Key developments and horizon scanning Law Society comments on Renters' Rights Bill The Law Society has issued its view on the Renters' Rights Bill, which had its second reading in the House of Lords on 4 February 2025. It broadly backs the planned changes—such as prohibiting ‘no-fault’ evictions and curbing rental bidding wars—but warns these aims risk faltering without clearer enforcement mechanisms and extra funding for the justice system. It also notes the reforms could prompt more contested hearings, since landlords will need to evidence valid grounds for possession, and a spike in claims as tenants gain greater scope to challenge evictions. The Law Society urges the government to set out how courts will be resourced...

In this issue: Budgets and Finance Bills Court of Protection UK taxes for Private Client HMRC Manuals updates Tax avoidance, evasion and non-compliance Pensions, insurance and tax efficient investments International Question of the week Additional Private Client updates this week Daily and weekly news alerts LexTalk®Private Client: a Lexis+® community New and updated content Dates for your diary Trackers Latest Q&A Useful information Budgets and Finance Bills Autumn Budget 2024 The Chancellor of the Exchequer, Rachel Reeves, presented the government’s Autumn Budget on Wednesday, 30 October 2024. For analysis of the consultations and statements pertinent to Private Client practitioners, see News Analyses: Autumn Budget 2024—Private Client analysis and Video analysis—Autumn Budget 2024: initial reaction from Harriet Brown, barrister at Old Square Tax Chambers. For coverage of the corporate tax themes, see News Analyses: Autumn Budget 2024—Tax analysis and Video analysis—Autumn Budget 2024: initial reaction from John Endacott,...

What is a CVA? A company voluntary arrangement (CVA) is a form of insolvency that permits a company to enter a binding agreement with its creditors to compromise unsecured debts or otherwise agree how its affairs are handled. The directors continue to run the business, under the oversight of an insolvency practitioner. Retailers, particularly those with extensive property portfolios, frequently adopt so‑called ‘landlord CVAs’ to reset rental commitments and shut loss‑making stores. This note outlines how property law and landlord and tenant considerations may emerge under such a CVA. It highlights provisions commonly included in CVAs and explains how they tend to work in practice. Nevertheless, each CVA will vary according to the precise terms proposed. It is therefore vital to examine the CVA proposal carefully to assess its effect on creditors. This note does not provide detailed guidance on the mechanics of approving and implementing a CVA. For Practice Notes addressing the CVA procedure, see: Company voluntary arrangements—an introductory guide The CVA proposal and...

UK real estate investment trusts (UK REITs) The UK regime for real estate investment trusts (REITs, termed UK REITs in statute) took effect on 1 January 2007. There are now in excess of 150 REITs, several of which moved into the structure when the framework first commenced. Those early adopters have since been joined by many more participants owing to revisions to the entry criteria, in particular the following: the removal of the entry charge; permission for REITs to invest in other REITs; and a relaxation of the listing condition so that companies without a formal listing, but admitted to trading and actually traded on a recognised stock exchange (for example on markets such as AIM), can also qualify. Further amendments have been introduced to the REIT rules in recent years with the stated intention of making the regime more appealing to prospective entrants. The principal legislative provisions for the REIT tax regime sit in Part 12 of the Corporation Tax...

This Practice Note explores the principal legal terms typical of social housing finance and what distinguishes them from financing in other sectors. It focuses on standard financial covenants and other sector‑specific provisions, including events of default, together with terms linked to the availability of long‑term fixed rate interest options. For more on social housing finance transactions, see Practice Notes: Social housing entities entering into finance transactions Key deal structures in social housing finance Taking and enforcing security from social housing entities This Practice Note concentrates solely on private not‑for‑profit providers of social housing registered in England (referred to as ‘RPs’), as they comprise the vast majority of private debt finance raised by housing associations to date. It does not cover providers registered in Wales. Financial covenants—introduction The principal financial covenants in social housing finance are: loan to value gearing interest cover (less commonly) net rental income cover from charged properties Loan...

From: [ name of company ] of [ address ] (the ‘Company’) To: [ name of artists ] of [ address ] (collectively, ‘you’ or ‘your’) Dated: [ Date ] Dear [ name of artists ] Filming performance by [ insert group name ] for [ specify event or purpose ] This letter confirms the arrangement between you and the Company for your engagement as a group of performing artists, on the terms below, in relation to filming and recording an audio‑visual production of your [ live OR studio ] performance (the ‘Production’) which the Company intends, though does not commit, to produce. 1 Engagement The Company engages you, and you agree to provide your services as a group of performing artists on [ dates ] at [ times ] at [ venues ], and to perform the programme of works listed in the Schedule, or such other works as the Company may agree with you, for the purpose of making the Production....

The parties agree: From: [ insert name of publisher ] (‘we’ and ‘us’) of [ insert address ] From: [ insert name of company ] (‘you’ and ‘your’) of [ insert address ] Dated: [ insert date ] Dear [ insert organisation name ] ‘[ insert name of programme ]’ (the Programme) 1 Subject to, and in consideration of, your payment to us of the amounts specified in Schedule 1 (receipt of which is acknowledged), we hereby provide you with a non-exclusive licence covering the musical and literary works (the Works), the details of which are set out on the cue sheet in Schedule 2...

From: [ insert name of contributor ] (‘me’ or ‘I’) To: [ insert name of production company ] (‘you’) Dated: [ insert date ] Dear [ insert organisation name ] ([ insert name of production ]) (the Production ) In return for the payment from you to me of £[ insert amount ] (the receipt of which is hereby acknowledged by me) I state, represent and agree as follows: 1 I am the exclusive creator and proprietor of the [ specify nature of work and title ] (the Work )...

Broadly, in this context, an asset is assessed only for appropriation purposes by reference to that specific date (rather than the date-of-death valuation that applies for inheritance tax (IHT) purposes)...

General principles Once a fixed-term assured shorthold tenancy (AST) ends, a periodic tenancy arises by operation of section 5 of the Housing Act 1988 (HA 1988). Under s 5(3)(d) HA 1988, the duration of that periodic tenancy is set by reference to the interval for which rent was last due under the preceding fixed-term tenancy itself as specified by that statute...

Q&A In this Q&A, the tenant is termed the immediate tenant, while the intended subtenant is called the proposed tenant. Any subtenants of the proposed tenant are described as potential subtenants. As the exact text of the lease covenants is unknown to us, we proceed on the basis that the prohibition covenant mirrors that in Nemcova v Fairfield Rents, under which the lease obliged occupants not to use the premises for any unlawful or immoral purpose, and ‘for any purpose whatsoever other than as a private residence’. We also proceed on the basis that the alienation clause includes a requirement for the immediate tenant to adhere to the provisions set out in the superior lease in full...