How to Extend a Flat Lease

How to Extend a Flat Lease

If your lease is coming to an end and you want to stay in the property, you need to know how to extend a flat lease. However, to get the best understanding, you may need some help from an expert leasing service like the one offered at Kirkby Diamond. So let us take you through the steps you need to take when your lease is expiring so that you can enjoy more time in the property you love.

Understanding the Lease Extension Process

When it comes to extending your lease, there are several steps you need to take and a strict timeline that needs to be followed. Trying to renegotiate early can be detrimental as the landlord may see you as willing to pay over the odds to stay put, whereas negotiating too late could leave you without a property at all! To avoid either of these scenarios, it is important to use the following steps to guide you:

Lease Extension Costs 

Step One – Know How Long is Left On Your Lease

The first step in any lease negotiation is knowing when your current lease expires so that you can get the right help at the right time. When your original lease was agreed, you would have been issued with a contract stating the terms of the agreement and your lease expiration date. This is the date you need to work to, even if you disagree that it is accurate. If you have any issues with the date being incorrect or your landlord claiming it is a different date, let your lease expert know as soon as possible.

Step Two – Get Some Representation

Getting advice from an expert is one thing, but signing up for representation is something else and can be daunting, especially when you haven’t worked with a representative before. At Kirkby Diamond, we help many tenants understand how to extend a flat lease and work on their behalf to achieve the best deal. Using an expert service like ours will not just save you money, but it will make the process less stressful and less time-consuming.

Step Three – Know Your Negotiation Limit

When you have appointed a representative, you will need to work together to decide on your best price offer. Your advisor can suggest current valuations and help you come to an agreed figure to be offered to the landlord. Once this is agreed upon, all you need to do is let your representative work on achieving the right deal for you!

Let Kirkby Diamond Lead the Way

If you need more help finding out how to extend a flat lease, then the team here at Kirkby Diamond is ready to help. We are a full-service property firm with several chartered surveyors, valuers and lease experts who are ready to help you achieve your goals. So call us today to arrange an initial, no-obligation discussion and find out more about what we do – we look forward to working with you to achieve the best leasing outcome.