Deeds of Variation
Sometimes both parties agree that the terms of the lease should be varied, for example to allow the tenant to carry out alterations or pursue an alternative use. This needs to be documented in a formal deed and we can assist in the preparation of this.
Any variation of the lease will need to be agreed by both the landlord and the tenant. A lease can be varied to make changes to various terms for example the level of rent or the rent review provisions, the authorised use or repair obligations.
Sometimes the variation is to be a personal arrangement between the landlord and current tenant, in this situation a Side Letter is appropriate.
This is useful in order to agree a personal concession, for example where a landlord agrees to accept rent monthly rather than quarterly but only from the current tenant. A Deed of Variation will change the terms of the actual lease and so any changes will apply to future tenants but a side letter is simply an agreement with the individual tenant at that time.
Please contact Elizabeth Williams for more information on 01926 679631 or firstname.lastname@example.org
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