Business landlords and tenants - are you in favour of more regulation?
The new (Code for Leasing Business Premises in England and Wales 2007) was introduced in the spring of this year. The Code aims to encourage fairness in commercial leases and promote transparency and flexibility in the property market. As a prospective tenant or landlord, the code helps provide clarity to the issues that should be considered in agreeing terms for a business lease.
The code includes three documents:
- The Landlord's Code of Practice,
- An Occupier Guide
- Model Heads of Terms.
On the 28th March 2007, Yvette Cooper, The Minister for Housing and Planning, made a statement to the House of Commons about Government Policy on commercial leases. Although positive about the introduction of the code she added, “I am concerned about continuing elements of inflexibility, particularly the predominant use of upward only provisions in rent review clauses and inflexible provisions for tenants exiting property they no longer need. If the market does not deliver, we have identified legislative options.”
It is understood that by complying with the code this should prevent further legislation; Fisher German has experience in acting for both landlords and tenants in negotiating terms for business leases, for further information on the code or for advice on the letting or renting of business premises please contact simon.geary@fishergerman.co.uk
- Ashby de la Zouch
- 01530 412821
- Banbury
- 01295 271 555
- Knutsford
- 01565 757970
- Market Harborough
- 01858 410 200
- Newark
- 01949 851815
- Southampton
- 02380 883150
- Stafford
- 01785 220 044
- Worcester
- 01905 453275
