The Act provides business tenants the right to security of tenure.
'Inside the Act'
At the end of the contractual term, the tenant has the right to a new lease on the same terms as the old one – subject to ‘reasonable’ updating and at a current market rate.
It is important to be aware of the following Notices in relation to the Act (which must be served in a prescribed format):
'Outside the Act'
The lease will end when it expires i.e. the tenant has no right to remain in the property and can only do so by signing a new lease.
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