- The lessee must be in occupation of the property as his or her only or principle home at the end of the lease
- There must be a long residential tenancy at a low rent
What Happens When a Long Term Residential Lease Expires?
In England and Wales many people own a leasehold interest in their property. This means that they, as a ‘lessee’, have an interest in the property for a certain and limited ‘term’.
Upon expiration of this term, what happens?
The simple answer is that a lessee has the right to security of tenure, meaning they have the right to stay in the property. However, they must meet certain criteria to exercise this right, as set out in Schedule 10 of the Local Government and Housing Act 1989.
There are two requirements for a lessee to be eligible for security of tenure: