LANDLORD AND TENANT RELATIONSHIP ITS EFFECTS ON PROPERTY

LANDLORD AND TENANT RELATIONSHIP ITS EFFECTS ON PROPERTY
 
CHAPTER ONE
1.0     INTRODUCTION
Admassiey. (1995), The purpose of this article is to analyze the impact of a landlord and tenant ordinance (LTTO) on property values, using time series data for the city of Evanston, Illinois, where the ordinance has been enacted since 1975. The empirical data analysis, which includes a trend analysis of heroin price indices for both rental and owner-occupied property has shown that L.T.O is not likely to significantly affect HOUSING VALUES. Those remedies provided in the landlord and tenant ordinance are not likely to be radical departures from the current practices such as housing / building code, and can therefore not be expected to affect housing values substantially.
This research was supported by a grant from the office if Real Estate Research at the university of Illinois. We acknowledge helpful comments from professor peter colwell, and the good research assistance of Theresa Cherniak and Michael Duncan.
Acting in landlord and tenant malters for commercial owners or occupiers requires knowledge of legislation (such as the landlord and tenant Act 1954) and case law as well as and understanding other commercial property. JH Walter has a rich supply of comparable evidence on which to draw to establish a verifiable basis for rent review or lease renewal backed by the experience of our surveyors which are also active agents in the market place. Brought together with technical and legal data, this make us well placed to negotiate the best deal for our clients whatever the market conditions while giving realistic advice about the possible outcome of dispute resolution.
Restructuring of lease can prove an attractive proposition for both landlord and tenant. We offer advice to ensure that clients pay and receive compensation at appropriate levels to reflect changing rental income, lease term and capital value. At lease expiry, both owners and occupiers seek our support in dilapidation claims. (Dilapidation: the extent to which the property falls short of the repairing obligations of lease). We negotiate claims including guidance on the distinction between repair and improvement and the limit of tenant liability on claims where diminution in value (Lost Value) is less than the cost of repair. We advised in rent review of a prominent shop in an unusual retail pitch but one attractive to specialist retailers. Gathering evidence form nearby lettings and other reviews, we helped our client understanding the opportunities and argument possible including adjustments for location, return frontage, unusual layout and repairing obligation beyond matters of value, we gave guidance on required notices and issues of timing in connection with other rights and obligations in the lease.
HISTORY
          The landlord and tenant relationship is defined by existence of a leasehold estate.
i      Traditionally, the only, obligation of the landlord in the united states was to grant the estate to the tenant.
ii     Although in England and Wales, it has been clear since 1829 that a landlord must put a tenant into possession.
iii    Modern landlord – tenant law includes a number of other rights and duties have been codified in the uniform presidential landlord and tenant Act.
1)      An essential ingredient in the achievement of the objective of landlord and tenant in entering into contract is cordial relationship although the interest of the parties are not mutually exclusive, conflict in the relationship can prevent landlord from earning a fair returns on his investment in the property just as the desire of the tenant to derive maximum utility from occupation will also suffer defeat, the society will be worse of it.
2)      Therefore to give opportunity to all ranks of interests associate with the particular property to be exercised without friction the lease sets landlord and tenant.
3)      The landlord nor the tenant meets his obligations under the lease because with the steady fall in the real value of his income the tenant finds it difficult to pay his rent promptly or sufficiently of utility bills. The obvious consequence is conflict in relationship between landlord and tenant.
1.3 AIM AND OBJECTIVES
          The main aim of this study is to proffer resolution of conflict which has being in existence between landlord and tenant relationship.
in landlord and tenant relationship.
1.4 RESEARCH QUESTIONS
          This study was undertaking to address the following research question.
1.5     SIGNIFICANCE OF THE STUDY
1.6     SCOPE OF THE STUDY
After the coming into force of this act, land a lease or a charge registered under this Act may not be disposed off, except in accordance with this Act, and nay disposition, except under this Act for the purpose of creating, transferring, varying or affecting any estate, right or interest in any land, lease or charge is of no effect.
Nothing in section 40 shall be construed as preventing an unregistered instrument form operating as a contract, but no action may be brought upon any contract for the sale or other disposition of land or any interest in land, unless the agreement upon while such action is brought or some memorandum or note thereof is in writing and signed by the party to be charged or by some other person there unto by him lawfully authorized.