Company let - Liquidation

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    Company let - Liquidation

    We let a property to a company using a company let agreement. The company is the tenant and its employees the occupants. The company has defaulted on the rent and is now in voluntary liquidation. We have served notice in line with the agreement and my questions are:

    1. is there any way to gain possession of the property quicker than the notice period?
    2. If the occupants do not leave the property what do we do then as a section 8 notice would not apply?(the occupants have advised us that they may no leave as the company has, apparently, been taking payments for the rent from their wages)

    many thanks

    #2
    You simply use common-law contractual procedures to end the Company's tenancy.
    The Company is then obliged to procure vacant possession in order to hand-back to you a fully vacant property.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

    Comment


      #3
      I thought with a company let you would serve a notice to quit on the company and as soon as you had done this the tenant the company had sub let you automatically becomes your (the landlords) tenant and you can then go through the normal process of eviction.

      Where you stand if the deposit hasnt been protected (for the sub tenant) and if is not passed over to you I dont know.

      Comment


        #4
        What many Ls do not realise is that when you have a company tenant, then the person who signs the TA on its behalf must have the authority to do so and I find quite a few do not have the correctly authorised signature. It will be in the Memorandum or Articles of Association normally. Also it must have the company's Registered Address on it, and in many instances, it is just a local office, which is insufficient. Unless all this was in place then I'm afraid your chances of obtaining back rent are minimal and if using contractual procedures then you need to serve notices in the right place. You might want to contact any appointed Receiver/Administrator.

        I have always had personal guarantors for any company lets just in case the above situation arises with regard to unpaid rent, and dilapidations.
        The advice I give should not be construed as a definitive answer, and is without prejudice or liability. You are advised to consult a specialist solicitor or other person of equal legal standing.

        Comment

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