Wednesday, 9 May 2007

Code for Leasing Business Premises

A new code of conduct has been developed which aims to promote fairness in commercial leases, and recognises a need to increase awareness of property issues, especially among small businesses, ensuring that occupiers of business premises have the information necessary to negotiate the best deal available to them.

‘The Code for Leasing Business Premises in England and Wales 2007’ is the result of collaboration between commercial property professionals and industry bodies representing both owners (Landlords) and occupiers (Tenants).

The Code is voluntary so occupiers should be aware that not all Landlords will choose to offer Code-compliant leases. The Government, however, takes a keen interest in ensuring the property industry complies with this voluntary Code.
The Occupier Guide is not a substitute for professional advice and tenants are encouraged to seek professional advice as soon as possible.

The Code consists of three parts:

10 point requirements for landlords in order for their lease to be Code-compliant; click here to receive the document

A guide for occupiers, explaining terms and providing helpful tips. click here to receive the document

A model Heads of Terms (which can be completed electronically and downloaded). click here to receive the document

Click here to receive the entire code (PDF 1.3MB).

Remember even after you have reviewed these documents or completed the Draft Heads of Terms it is important to seek professional advice regarding you individual situation!

The Code for Leasing Business Premises is endorsed by:
The Association Of British Insurers,
British Council for Offices,
British Retail Consortium,
Confederation of British Industry,
Communities and Local Government,
British Property Federation,
CoreNet Global,
The Forum of Private Business,
Federation of Small Businesses,
the Welsh Assembly Government,
Investment Property Forum,
The Law Society of England and Wales,
The Royal Institution of Chartered Surveyors.

DISCLAIMER - PLEASE NOTE: The ideas and information shared with you in this email are intended to inform rather than advise. individual circumstances do vary it is important that consult your adviser before implementation. If you do or do not take action as a result of reading this information, before taking professional advice we will accept no responsibility for any financial loss incurred.

Dynamic Business Strategies Ltd

The Counting House

14 Walford Place




Registered in England. Reg No.5418835
Tel: 07917 446068



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