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What does “exclusion of security of tenure” under the Landlord and Tenant Act 1954 mean?

A Tenant has a statutory right to renew its tenancy at the end of the Lease if it occupies the premises for the purpose of its business. The Landlord and Tenant can in certain circumstances agree to contract the Lease outside the terms of the Landlord and Tenant Act 1954, meaning that the Tenant will not have the benefit of the statutory right to renewal of the Lease. In order to exclude the security of tenure provision the Lease must be for a term of years certain.

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