The following report seeks to advice ABC Ltd on the legalities of acquisition of assets with respect to a commercial property portfolio based on the provisions of the landlord and tenant act of 1954.
The act provides the necessary guidelines on tenancy arrangements and the necessary options to be taken to improve relevant property law with particular attention to maximize the investment efficiency value of the assets acquired.
In this case ABC Ltd wants to acquire ,five two storey retail units and three small office buildings and a car park that provides 15 spaces located on the market streets of Anyton.(a small town center)
ABC Ltd also wants to acquire 11 Market Street for the purpose of their estate office at the earliest opportunity. Guidelines include:
• The names and contact addresses of the landlord and tenant.
• The address of the property.
• The date the tenancy agreement is signed.
• The date the tenancy is to begin.
• Addresses for service for both the landlord and the tenant.
• Whether the tenant is under the age of 18.
• The rent amount and frequency of payments.
• The amount of any bond.
• The place or bank account number where the rent is to be paid.
• Any fees (letting agent or solicitors) to be paid (if applicable).
• A list of any chattels (like furniture, curtains and other fittings) provided by the landlord.
• The type of tenancy and the date the tenancy will end if it is a fixed-term tenancy.