Commercial lease code
Code for Leasing Business Premises
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 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.
Occupier Guide
This Guide has been produced for use by occupiers and prospective occupiers as an introduction to the issues that are relevant in leasing business premises.
This Guide broadly deals with issues covered in a lease in simple language and provides helpful tips for any occupier.
It is important that occupiers seek professional advice from a lawyer and a surveyor when negotiating a lease.
Landlord Code
This new Code is the result of pan-industry discussion between representatives of landlords, tenants and Government. The aim is to be clear, concise and authoritative.
It is hoped that the Landlord Code will be used as a checklist for negotiations before the grant of a lease and lease renewals. It should be stressed, however, that Landlords should be transparent about any departures from the Code in a particular case and the reasons for them.
Model Heads of Terms
A model Heads of Terms has been provided, setting out a detailed list of the main points that should be included in a commercial lease.
Some of these issues might not be at the forefront of an occupier's mind when entering into a lease but may affect the ability to manage the occupier's business in or from the property.
(The Heads of Terms are in an interactive format enabling either party or both parties to enter terms of agreement on line. It is expected this will speed up the transaction process resulting in benefits to both owner and occupier.)
Supplementary Information
The Relevance of Energy Performance Certificates to new leases
Empty Rate Relief - the impact of reforms on the Code for Leasing Business Premises
