Often during the term of an existing Lease, particularly a long lease term or where previous renewals of lease may not have been prepared, the parties agree on various variations to the lease term such as rent amounts payable, additional option periods, various works to be undertaken by either of the landlord or tenant and other such matters.
This does not have to take place at the renewal of the lease and may occur at any stage. Save for the amendments made in the variation of lease, the existing terms and conditions of the present lease generally remain in place.
The landlord is not permitted under the Retail Leases Act 2003 to claim costs for the negotiation, preparation or execution of a lease or the landlord’s compliance with the Act, however if a variation is requested by a tenant, it may be possible to seek payment of the variation costs from the tenant under various circumstances.