The SCSI have recently launched a new code “The Business Leasing Code for Landlords and Tenants”
The Code aims to provide landlords and prospective occupiers with guidance to all the issues involved in leasing premises including:
- rent reviews,
- insurance obligations,
- sub-lettings and assignments.
A Model Heads of Terms has also been provided, setting out a detailed list of the main points that should be included in a commercial lease.
The Chairman of the SCSI’s Commercial Agency Professional Group, Brian Meldon said; “It is important that these businesses have an authoritative source of information to guide them through the process of leasing a commercial premises so that they can manage their property efficiently and run their businesses more profitably.”
The SCSI’s aim is that after reading the Code landlords and tenants will have a better appreciation of when to seek professional advice and a fuller understanding of that advice.