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Dear Sir/Madam,
The Truth behind the Code…
The Da Vinci Code has raised controversial claims against the basic fundamental Christian belief and orthodoxy.
The Commercial Lease Code is arguably just as controversial as it’s central theme is to look at lease negotiations between landlords and tenants which hitherto have often been antagonistic, costly and a power struggle between long established positions where often the side with the biggest clout won.
 The code of practice (* below) consists of 23 recommendations that reflect current best practice in negotiating terms for a tenancy either new or at renewal. These were put together by a working party of landlord and tenant representative bodies together with the RICS and sanctioned by the government.
Alas the government seized on one of the recommendations and politically manipulated this in a call to ban upward only rent reviews. But as leases are getting shorter anyway so there are fewer reviews (see our November 2005 letter) the government dropped this. But in March 2005 Yvette Cooper stated that the government would instead review subletting and assignment terms!
Unlike Da Vinci the lease code is not currently in the news but we believe solicitors should benefit from continuing to follow best practice in advising clients whichever side of the landlord and tenant divide.
Chartered Valuation Surveyors are best placed to assist since as we have seen from other letters interpretation of lease terms often have a substantial valuation impact.
* Click the logo for a link to the code and useful resources
This is part of a regular series of topical articles provided exclusively by RDN Surveyors. If you would like further information or add your comments please reply to this e mail or contact Roger Nelson on 0800 902 0466
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31 Holmesdale Road, Reigate, Surrey RH2 0BJ
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