Posted: Monday, 16 February 2009 @ 14:17
At a time when there are an ever increasing number of empty business premises, landlords need to adopt strategies for making their premises more attractive to prospective tenants. Adopting the Code for Leasing Business Premises may be one such strategy.
The Code was set up as a voluntary framework to promote fairness between landlords and tenants of business premises. It sets out 10 key areas where landlords must adopt good practice including repairs, service charges and rent reviews.
Linked to the Code is the Commercial Landlords Accreditation Scheme. Members of the Scheme are required to comply with the following five rules:
- Inform prospective occupiers at the start of negotiations that they are scheme members, using the scheme postcard or making suitable alternative arrangements
- Provide prospective small business tenants with some basic information that explains the risks and pitfalls when taking a commercial lease, specifically the Leasing Business Premises: Landlord Code 2007, Heads of Terms Checklist and Occupier Guide
- Abide by the Leasing Business Premises: Landlord Code 2007
- Communicate to the occupier if there are any Code requirements that the landlord is unable to fulfil, and explain to the occupier why this is the case
- Supply prospective occupiers with their own written complaints procedure and a named contact who handles complaints. This must offer to deal with complaints within 28 days of receipt
If you are a landlord and have adopted the Code then please contact me to let me know how successful it has been.
Steve Petty, Commercial Property Solicitor
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