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Property Law&Practice 2 - Coursework Example

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Property Law and Practice Instructor Date Institution The landlord and tenant act 1954 is one of the United Kingdom’s acts. The act extends to Wales and England (Baum, et al., 2011, p. 171). The act has several stipulations, which when followed will help ABC manage the premises effectively…
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Property Law&Practice 2
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Download file to see previous pages The main reason that leads to the formulation of part II of the agreement was to bring protection to the business tenants. A business tenant having protection by the act will not get any eviction simply by the receipt of notification to relinquish the house, or by the lapse of a fixed term of the tenancy evacuate the room or building. It is stipulated that the landlord, in consideration to evacuate the tenant, has to serve the tenant with an evacuation notice. The tenant, on the other hand, has to respond to, before any action including eviction can be carried out. On the same note, part II of the same act is applicable to the tenancy where the property being used obtains the protection. The act talks of an inclusion of the premises which includes those occupied by the tenant for the use of the business carried out by that tenant. The purpose might be for the specified business, or any other businesses carried out by the tenant. The act has some exceptions such as the one seen in S.43., for the company to improve that all the tenants take a lease period of more than six months. This is already applicable to all the tenants to ABC. The act does not provide a cover from the leases less than six months and have no scope for renewal. Even though both parties involved can agree on not to be covered, it is important to note that having a cover is very important, both to the business and its tenants, as well. Additionally, the tenancy that is granted by purpose of engagement by the guarantor has to be covered. Additionally, a tenancy that has obtained a grant by reason of occupation by the grantor gets excluded from the Act. This holds as long as there is clear agreement that states the purpose for which the tenancy exists. The condition of leasing of the building hall to the tenant who will then lease individual rooms to other businesses may prove productive in the long run. The tenant should take advantage of the fortification offered through the act. As a letting company, the houses should be left under the control of the management. This will ensure maximum returns on the investment carried out. For ABC Company to make significant progress, it has to get a timely and accurate performance of the assets. It should also ensure that it gets market information relating to other people who deal in the same businesses. Any successful investor has to make sure that it embraces core assets management strategies. This has a pivotal role in ensuring that they make better investment decisions. They can also see to it that critical staff gets freed, and those left to manage the property do it diligent and efficiently. It is a common undertaking nowadays that most businesses experience fluctuating business cycles. This problem gets compounded by credit contractors and limited liquidity. Therefore, the company should seek accounting and finance services relating to the following scales; account receivable, Corporate Accounting/General Ledger, account payable, portfolio accounting, as well as fund accounting. To avoid the risk incurred by fluctuations in business, ABC Ltd has to make sure that the terms of leases to do not rely on the profits and losses of the tenants. There are several ways that the property investment can be maximized. They include the following 1 Exit strategy: even though the business has already acquired the ...Download file to see next pagesRead More
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