Yes, in accordance with O'may v City of London Real Property
Lease terms within a LR can be modernised
What are the principles?
- LL must have valid reasons under estate management grounds
- Change proposed must be compensated by a change in rent
- Change must not materially adverse tenants security of tenure
- Must be reasonable
What are the type of changes?
Can introduce AGA's
What law is the RR bound by?
Terms of the lease
What law is bound by LR?
L&T Act 1954
What are the four requirements within a RR clause within the code for leasing business premises?
Must be clear and concise
Must not be headline RR clause
Both LL & T must be able to trigger
LL's should offer different types of RR's
What's an equated yield?
The internal rate of return of a growth explicit cash-flow
What is the Well Standards?
It is a building performance system used to measure buildings in relation to health, mental health and well being through air, water, nourishment, light, fitness, comfort and mind.
What is the regulatory tribunal?
It is independent from RICS and the regulatory department. It provides the profession with an effective, fair and independent judicial body.
What is lion heart?
A charity the RICS supports that supports past and present members who may find themselves in need
What is a permissive right of way?
Granted by landowner - not a public right of way
What is a prescriptive right of way?
Right of way obtained through continuous uninterrupted use for over 20+ years
If the assignee stops paying rent, what can the LL do?
Serve a S17 notice (landlord tenants covenants act 1995) to the former tenant
How do you work out a surrender?
Total up occupancy costs such as rent, rates and service charge until expiry
What is the RICS publication on data?
RICS Data Standards 2018
What is a royal charter?
granted by the queen - gives organisation powers to govern its own affairs
What is the RICS bye laws?
Rules by an organisation to control actions of its members