Catch 22 on rent increases

October 2004
Cabinet Maker;10/22/2004, Issue 5411, p8
Trade Publication
The article reports that tenancy groups, including the British Retail Consortium, are calling for Government legislation banning upwards-only rent review clauses. The decision is expected by the end of the year. But the Government is in a difficult situation, with the property lobby demanding it maintains the status quo. This involves a voluntary code of practice which asks that landlords find alternatives to upwards-only rent clauses. Despite being in existence for around two years, this code has not been adhered to. Furniture retailers with their need for floorspace have effectively been priced off the high Street but a look at rent reviews might encourage them back. Banning upwards only reviews should put downward pressure on rents, and make high streets attractive again.


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