When it comes to property transactions, one of the most important decisions you’ll make is choosing the right solicitor to guide you through the process. Whether you’re buying, selling, or renting, understanding the difference between residential and commercial property solicitors can help ensure a smooth experience. In this blog, we’ll explore the distinctions between residential and commercial property solicitors and help you determine which one you need in Finchley or North London.
What is a Residential Property Solicitor?
A residential property solicitor in Finchley is a legal expert who specialises in property transactions related to private homes and residential properties. If you’re looking to buy, sell, or remortgage a home, a residential property solicitor is the professional you need to work with.
These solicitors handle a variety of tasks related to residential transactions, including:
- Drafting and reviewing contracts
- Conducting property searches
- Ensuring the title of the property is clear
- Managing the exchange of contracts and the completion of sales
- Dealing with issues like leasehold agreements or shared ownership
A residential property solicitor in North London will also have an understanding of the local property market, which is incredibly important for managing transactions specific to the Finchley area and its surroundings.
What is a Commercial Property Solicitor?
On the other hand, a commercial property solicitor in Finchley specialises in legal services for business-related property transactions. This could involve anything from buying and selling office spaces, industrial properties, or retail spaces, to handling leasing agreements for commercial tenants.
A commercial property solicitor deals with more complex legal matters than a residential property solicitor, as these transactions often involve higher-value properties and businesses. Some of the services provided by commercial property solicitors include:
- Drafting and reviewing commercial leases
- Negotiating terms for business property acquisitions or disposals
- Handling due diligence checks for commercial properties
- Managing the structuring of property deals, including financing and land development
Key Differences Between Residential and Commercial Property Solicitors
While both types of solicitors deal with property law, there are significant differences in the work they undertake and their expertise. Here are some key distinctions:
1. Types of Property Handled
- Residential property solicitors focus on homes and residential property.
- Commercial property solicitors deal with properties used for business purposes, including offices, shops and warehouses.
2. Legal Complexity
- Residential property transactions are typically more straightforward, though they can still involve detailed legal work, especially with complex ownership or leasehold issues.
- Commercial property transactions tend to be more intricate due to factors like long-term leases, zoning laws and the higher financial stakes involved.
3. Legal Issues
- Residential property solicitors often handle issues like surveys, mortgages and conveyancing.
- Commercial property solicitors may need to navigate more complex matters such as planning permission, environmental regulations and business rates.
4. Client Types
- Residential solicitors typically work with individuals and families.
- Commercial solicitors serve businesses, including landlords, tenants and companies looking to buy or lease commercial real estate.
If you’re buying a home in Finchley or its surrounding areas, a residential property solicitor in Finchley is essential. They’ll guide you through the legalities of buying a house, including making sure your contract is fair, your financing is in place and that the property is free from legal issues.
Moreover, with the current housing market in North London, having a solicitor who understands the local market can be an invaluable asset. They can provide tailored advice, ensuring that any specific local factors are accounted for in your transaction.
If you’re a business owner or investor looking to acquire or lease commercial space in Finchley, a commercial property solicitor in Finchley is your go-to expert. Whether you’re buying office space for your growing business or negotiating a lease for a retail outlet, a commercial property solicitor can help you navigate the more complex aspects of the transaction.
They’ll assist with key factors such as contract negotiations, property taxes and tenant law, ensuring your business property dealings run smoothly and are legally sound.
Why Choose a Local Property Solicitor in Finchley?
Choosing a local solicitor for your property needs, whether residential or commercial, has several advantages. A residential property solicitor in North London or a Residential Conveyancing – YVA Solicitors will have detailed knowledge of the area’s property market, local regulations and specific challenges that might affect your transaction.
For example, Finchley’s real estate market has its own unique characteristics and a local solicitor will be well-versed in dealing with these nuances. They will also likely have established relationships with local estate agents, lenders and other professionals, which can make the process more efficient.
Conclusion
Choosing the right solicitor for your property transaction is crucial, whether you’re dealing with a residential or commercial property. By understanding the roles and expertise of Residential Conveyancing – YVA Solicitors versus commercial property solicitors in Finchley, you can ensure that your transaction goes as smoothly as possible.
If you’re in need of expert legal advice for your property dealings, don’t hesitate to consult with an experienced solicitor who understands the specifics of the Finchley area and can provide the guidance you need. Whether buying your first home or negotiating a commercial lease, the right solicitor will be your trusted partner every step of the way.
For more information or to discuss your property needs with an experienced solicitor, visit YVA Solicitors.
Possession Proceedings – Unprecedented Changes (PD 55C)
The purpose of the changes is to take into account the effect of the pandemic on all parties maintaining confidence in fairness of outcomes, encouraging compromise and to ensure the defendants are provided with legal advice.
Current Restrictions
- Moratorium on forfeiture of business tenancies extended until 31 December 2020 and is further extended until 31 March 2021.
- In Commercial Rent Arrears Recovery proceedings (“CRAR”) the minimum unpaid rent must be equivalent to 276 days rent until 24 December 2020 and 366 days from 25 December 2020. The restriction on landlords using CRAR to recover unpaid rent will also automatically extend to the end of March, in line with the moratorium’s expiry date. This allows businesses sufficient breathing space to pay rent owed.
- PD 55C: Possession Proceedings
- Reactivation Notice required for stayed claims
- New notice requirements for new claims
Overall Arrangements
- Emphasis on compromise
- Legal advice and assistance for defendants
- Non-statutory best practice guidance:
– MHCLG guidance for private and social landlords and tenants
– NRLA Pre-Action Plan: Managing Arrears and avoiding possession claims
– FCA guidance ‘Mortgages and Coronavirus’ (to 31.7.2021)
– MHCLG Code of Practice for commercial property relationships during the Covid-19 pandemic (to 24.6.2021)
New Listing Priorities
- Court will no longer fix hearing dates when claim is issued
- No more block listing
- 21 days’ notice
- Cases will be given priority if they involve the following:
- Anti-Social behaviour allegations;
- Extreme rent arrears;
- Squatters or illegal occupiers and persons unknown;
- Fraud or Deception;
- Unlawful Subletting;
- Allegations of abandonment of the Property;
- Local authority temporary accommodation needed for reallocation
Covid-19 Case Marking
- Intended to highlight settlement suitability and assist the court in dealing with listing, case management and the exercise of discretion
- Any Defendant or private Claimant may request a case is marked
- Specified information required
- Upon making request must inform all other parties. Request will result in case marking unless objection raised
- Judge may also direct that a case is Covid-19 marked
Review and Substantive Hearing Dates
The Review (R) Date:
– a 5-minute non-attended appointment on the documents
– requirements of the claimant relating to bundles before R date
– requirement that claimant is available to discuss the case during the R date
– consequence of failure to resolve case on the R date
The Substantive (S) Hearing Date:
– a 15-minute hearing attended by all parties 28 days after the R Date
– a physical hearing unless the parties agree otherwise or contingency arrangements apply
– unless case resolved, a decision by the Court or further case management directions
– adjournment considered without application where advice not yet made available to Defendants and consequences of order ‘may be serious’
Accelerated Possession Claims
- As with existing rules, the court can still make a possession order without a hearing
- Reactivation notice requirements apply for stayed claims
- The same priorities apply as with normal cases in the order in which they will be dealt with
- Will be referred to judges “at a manageable frequency”
- Where the parties agree or there is no objection a review hearing can be ordered
Evictions
- 14 days’ notice of an eviction date required
- Indicated that applications for transfer to High Court will not be prioritised
- No execution of possession warrants or delivering notices of eviction between 17/11/2020 and 11/01/2021.
- The Public Health (Coronavirus)(Protection from Eviction and Taking Control of Goods)(England) Regulations 2020
- There will be no enforcement of possession orders “Where lockdown measures are in place to protect public health”
- No evictions over Christmas Period save for the most serious of cases
How will the arrangements work in Practice?
The key aims of the overall arrangements are to reduce volume in the system by enabling earlier advice and facilitating settlement. How well this works in Practice is yet to be seen. What we do know is that delays will be inevitable and Covid-19 Case Marking is likely to become the norm. In the circumstances, it appears the Accelerated possession claims may be the ‘Cinderella’ of the situation.
Possession Proceedings – Unprecedented Changes (PD 55C)
The purpose of the changes is to take into account the effect of the pandemic on all parties maintaining confidence in fairness of outcomes, encouraging compromise and to ensure the defendants are provided with legal advice.
Current Restrictions
- Moratorium on forfeiture of business tenancies extended until 31 December 2020 and is further extended until 31 March 2021.
- In Commercial Rent Arrears Recovery proceedings (“CRAR”) the minimum unpaid rent must be equivalent to 276 days rent until 24 December 2020 and 366 days from 25 December 2020. The restriction on landlords using CRAR to recover unpaid rent will also automatically extend to the end of March, in line with the moratorium’s expiry date. This allows businesses sufficient breathing space to pay rent owed.
- PD 55C: Possession Proceedings
- Reactivation Notice required for stayed claims
- New notice requirements for new claims
Overall Arrangements
- Emphasis on compromise
- Legal advice and assistance for defendants
- Non-statutory best practice guidance:
– MHCLG guidance for private and social landlords and tenants
– NRLA Pre-Action Plan: Managing Arrears and avoiding possession claims
– FCA guidance ‘Mortgages and Coronavirus’ (to 31.7.2021)
– MHCLG Code of Practice for commercial property relationships during the Covid-19 pandemic (to 24.6.2021)
New Listing Priorities
- Court will no longer fix hearing dates when claim is issued
- No more block listing
- 21 days’ notice
- Cases will be given priority if they involve the following:
- Anti-Social behaviour allegations;
- Extreme rent arrears;
- Squatters or illegal occupiers and persons unknown;
- Fraud or Deception;
- Unlawful Subletting;
- Allegations of abandonment of the Property;
- Local authority temporary accommodation needed for reallocation
Covid-19 Case Marking
- Intended to highlight settlement suitability and assist the court in dealing with listing, case management and the exercise of discretion
- Any Defendant or private Claimant may request a case is marked
- Specified information required
- Upon making request must inform all other parties. Request will result in case marking unless objection raised
- Judge may also direct that a case is Covid-19 marked
Review and Substantive Hearing Dates
The Review (R) Date:
– a 5-minute non-attended appointment on the documents
– requirements of the claimant relating to bundles before R date
– requirement that claimant is available to discuss the case during the R date
– consequence of failure to resolve case on the R date
The Substantive (S) Hearing Date:
– a 15-minute hearing attended by all parties 28 days after the R Date
– a physical hearing unless the parties agree otherwise or contingency arrangements apply
– unless case resolved, a decision by the Court or further case management directions
– adjournment considered without application where advice not yet made available to Defendants and consequences of order ‘may be serious’
Accelerated Possession Claims
- As with existing rules, the court can still make a possession order without a hearing
- Reactivation notice requirements apply for stayed claims
- The same priorities apply as with normal cases in the order in which they will be dealt with
- Will be referred to judges “at a manageable frequency”
- Where the parties agree or there is no objection a review hearing can be ordered
Evictions
- 14 days’ notice of an eviction date required
- Indicated that applications for transfer to High Court will not be prioritised
- No execution of possession warrants or delivering notices of eviction between 17/11/2020 and 11/01/2021.
- The Public Health (Coronavirus)(Protection from Eviction and Taking Control of Goods)(England) Regulations 2020
- There will be no enforcement of possession orders “Where lockdown measures are in place to protect public health”
- No evictions over Christmas Period save for the most serious of cases
How will the arrangements work in Practice?
The key aims of the overall arrangements are to reduce volume in the system by enabling earlier advice and facilitating settlement. How well this works in Practice is yet to be seen. What we do know is that delays will be inevitable and Covid-19 Case Marking is likely to become the norm. In the circumstances, it appears the Accelerated possession claims may be the ‘Cinderella’ of the situation.
