The Landlord has until the expiry of the deadline specified in the offer notice to serve a counter notice, otherwise known as a Section 45 Notice, which must either…
After the landlord has served the counter notice, the respective valuers of the landlord and the tenant will usually open negotiations over the premium amount.
If terms are not agreed within two months from the date the counter notice was received, you can apply to the FTT to determine the premium and other terms of the new lease.
In this post we summarise the circumstances in which you may need to apply to the county court in order to progress with your lease extension.
Once you and the landlord have agreed all the terms of acquisition for the new lease, the next stage is the conveyancing process which is also known as ‘completion’.