Long Tenancies or Leases
With Long Tenancies or Leases Residential, landlords are mainly concerned with letting on short tenancies (up to 3 years and if more, must be executed as a deed and witnessed ideally by a solicitor), but if the landlord lets out flats, they may themselves have bought a long lease on the flat - usually up to 99 years.
A long lease involves the purchase or payment of a premium (purchase price of the lease), along with a small annual rent and service charges.
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