Submitted on Tuesday 5th February 2013
Published on Wednesday 6th February 2013
Current status: Closed
Closed: Thursday 6th February 2014
Signatures: 5
Tagged with
Save the High Street by Giving Tenants more Rights over Landlords
The High Street has seen a number of high profile closures of businesses resulting in 10% of the high street being vacant. The retail character of our town centres is being robbed of its independent businesses. This is largely down to a strong bias in favour of landlords in commercial property law. Landlords use their power to negotiate highly biased leases with their tenants that shield them completely but leave independent businesses exposed.
For example:
- Leases drafted as "outside Landlord and Tenant Act 1954" meaning that at the end of a lease, landlords are not obliged to offer a new lease
- Landlords are not obliged to compensate tenants for loss of business resulting in enhancement works to their properties (eg scaffolding)
- Landlords can pull out of a transaction after heads of terms have been agreed & lawyers/architects having been instructed (gazumping)
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