Business Leases
Apr 11, 2007
Author:Nick Morrison

Many of our local clients and businesses take leases of commercial premises. A new Code for Leasing Business Premises has now been agreed.

Nick Morrison says: “We are sometimes surprised people do not take legal advice on commercial leases when if they were moving house they would tend to use a lawyer. Yet business leases can be just as complicated and are a big commitment for any practice. The new Code has resulted from collaboration between commercial property professionals and industry bodies representing both owners and occupiers. The Code is divided into three parts:
· 10 point requirements for landlords in order for their lease to be Code-compliant;
· a guide for occupiers, explaining terms and providing helpful tips; and
· a model Heads of Terms (which can be completed on line and downloaded).
“No one is obliged to follow the code and not all landlords will want to offer code compliant leases however the Government is keen to encourage people to follow the code. Another change our clients need to consider is the new deposit scheme of private tenants’ deposits to be held by landlords which came into force on 1st April 2007. Anyone with a property issue should contact us for further information and advice.
Call Nick on 01494 521301 .