Do You Need a Lease Extensions Solicitor?

It is no secret that living in a world with a real estate market in the shape that it is in today can be very confusing, and legally complex. Thanks to the Leasehold Reform Act of 1993, you are not short of options if you are holding a long term lease. If you are thinking of extending your lease and have currently been in your place of residence for a significant amount of time, approximately two years, then you may be eligible for a lease extension. A lot of people however think that the Leasehold Reform Act covers all of their rights and responsibilities, so they don't think they need the expertise of lease extensions solicitors. The truth is, even with the legal protection behind you, you will be best served and experience the best possible outcome if you consider hiring a lease extensions specialist. Here's how to find out if you need a specialist such as this, or if you can handle it on your own.

In a nutshell, if you are considering any kind of lease extension, you are best to hire a legal expert to work your case for you. Although you may be able to do it your own, you will likely find the process more expensive and time consuming than you would without a lawyer, and you may not end up with the best terms either. So although you can do it, it is not always the best of all worlds scenario.

That being said, under what conditions would you consider hiring a lease extensions legal specialist? If you want to extend your lease, and will need a savvy negotiator on your side, and you should hire a lawyer. If this is the route that you take, you don't want to hire just any lawyer. Most general lawyers do not see a lot of lease extensions cases, and so you want to work with a lawyer that has experience in these matters and is considered a specialist in this regard. Then you know you have someone that is truly working for your best interests.

Extending a leasehold is valuable in the sense that the shorter that the lease period gets, the less value it holds. Properties that have a lease of less than 90 years for example are not easy to sell, and this is one of the main reasons that people look to a lease extensions specialist to help them increase the value of their property. Extending the lease in essence then is extending the value of the property in question.

Negotiation is the core of every lease extension. The terms of the extension, the costs associated with the extension, the legal fees, all of this is part of the process and unless you are a skilled negotiator yourself, you will need a legal expert on your side. As well, this is not an overnight process, and thus you will feel more comfortable in this process if you have a lease extensions lawyer such as the Osbornes Lease Extension Solicitors working your case.