Further Information
Property
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Policies & Issues: Property
THE CODE FOR LEASING BUSINESS PREMISES
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The Code for Leasing Business Premises for England and Wales 2007 aims to promote fairness in commercial leases. It provides occupiers of business premises with the information necessary to negotiate the best deal available to them.
The BRC played a significant role in shaping the current version of the Code. We secured a number of key concessions from landlords, including a commitment to scrap break clause conditions, offer alternatives to upward-only rent reviews and sublet at the market rent. It is now an authoritative document with the potential to deliver genuine market change and provides occupiers with the guidance they need.
The Code is made up of three parts:
- 10-point requirements for landlords to ensure that a lease is Code-compliant;
- A guide for occupiers, explaining terms and providing helpful tips; and
- A model Heads of Terms.
Despite the industry's best efforts, dissemination of the code has been problematic. The BRC continues to work with other key stakeholders and central government to address this major concern with the Code.
A full copy of the Code and associated documents can be downloaded from:
  www.leasingbusinesspremises.co.uk
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