I am a second-seat trainee in the Investment, Landlord and Tenant ("ILT") team.
: ILT Huddle – The ILT team meet once a week for a cuddle without the C! This gives the team a chance to discuss ongoing matters, capacity levels, BD opportunities as well as just a general chit-chat to keep in touch whilst we work in a hybrid fashion.
I have been asked to draft a lease report. This task is one that crops up at least once a week. Leases are the basis of the work that occurs in the ILT department, whether it be reviewing them, drafting them, renewing them etc. The lease report is extremely important as we highlight the key terms of the lease to the client as well as their key rights and any unusual terms.
: As the lease report takes a good chunk of time, I then check my e-mails for any correspondence that has come in and needs to be actioned.
: I have recently been writing an article for the firm's website illustrating options for a victim of domestic abuse. My previous seat was in the Private Client department and we started the article at the end of my seat. We hope to have this published on the website soon.
: Lunch (I usually hang out my laundry too if I am WFH!).
: Often commercial clients will renew their lease at the end of the term. It is our job to ensure the renewal lease is drafted correctly so I have to review the Heads of Terms, draft the new lease and review the terms of the existing lease. There may be changes to some clauses such as the amount of rent and we will also need to ensure certain obligations reflect the terms of the existing lease. This means that the tenant will be obliged to repair, for example, to the state that the property was in when they were first in occupation rather than at the start date of the renewal lease.
: Other team members are very approachable and are invested in the development of their trainee. I have a call with the task supervisor to review my work and go through any amendments that need to be made and queries that I have.
: I then review my emails again for anything that needs to be actioned.