5. THE NEGOTIATIONS

5.

THE NEGOTIATIONS

Once a preferred option is determined we will then negotiate with the landlord (or their advisors) to agree a Heads of Terms (HOTs) document that is agreeable to both sides.  Although not legally binding the HOTs is a crucial document in determining how smoothly (or otherwise) the following legal process will be as any retrospective changes to the HOTs are far more difficult to agree. 

Whilst the tenant’s aim will usually be to minimise any rental commitment and maximise any incentive package we will also ensure that other less obvious matters such as those relating to repair/54 Act/rent reviews/break options/service charge etc. are agreed in such a way that minimises any risk to the tenant. 

A robust comprehensive HOTs documents should enable the subsequent lease negotiations between the respective solicitors to progress smoothly and on time.