Rent Monthly

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Rent Monthly

The British Retail Consortium is calling on the property industry to end the historic practice of quarterly rents.

Paying rent quarterly and in advance costs tenants millions of pounds every year and puts enormous pressure on cash flow – particularly for smaller businesses. The campaign is supported by 80,000 small businesses, 14 trade associations, a string of major chains, and 51 MPs.

This campaign is now calling on both private sector and public sector landlords to accept rent one month in advance instead of three.

LATEST NEWS
The BRC has recently published a draft deed to facilitate a transfer from quarterly to monthly rental payments, along with a template letter to initiate dialogue between retailers and their landlord.

DOWNLOADS AVAILABLE

	18 December 2008 Letter waiving the requirement to pay rent quarterly Click on the Word icon to download this document. NB: The suggested wording does not constitute legal advice (or any other advice) and should not be relied on for this purpose. The drafting is intended as a general guide and is not tailored for, or wholly suitable for, use in any specific situation. A complete review of the lease terms and the tax and other implications of the transaction must be carried out before the drafting is used. Please contact your usual legal adviser for assistance.


	18 December 2008 Template - Landlord Letter Click on the Word icon to download this document.

	Paying monthly in advance has been around for some time. This campaign is about getting the rest of the industry to catch up with the more progressive landlords.. Martin Meech, Group Property Director, Travis Perkins.

	We believe that this is a major area of concern facing our retail partners and therefore would aide their future success. We totally support the BRC in their efforts. Ian Kinman, Managing Director UK, PRG-Schultz UK Ltd.

	For the small independent retailer, cash flow is king. Paying rent monthly in advance will make our life a lot easier. Mark Hayward, Chief Executive, Radio, Electrical & Television Retailers Association (RETRA).