Full review of leases, current and previous
We were instructed by our client to carry out a full review on their current and previous leases.
To establish the client’s lease obligations and confirm if they have been paying them correctly.
Throughout the years this client’s store had changed Landlords a few times which in hand meant that there were changes with managing agents. This made the review difficult as previous managing agents who had no current interest in the property were not responsive.
Our review highlighted a large credit balance on the account of the previous Managing Agent.
Correspondence with the outgoing Managing Agent indicated that the balance had been passed onto the Current Managing Agent. Which was refuted.
Reverted to prior Managing Agent and requested clarification of the credit balance that was showing on the closing statement. after a lot of work from our team, confirmation was received from the current Managing Agent that the account had been handed over correctly with a credit balance of £62,574.79 coming across.