Proposals announced by the Government to reform the law relating to pub tenancies will be welcomed by tenants throughout the country.
The most significant reform is the plan to make the Industry Framework Code legally binding, although the most welcome aspects of the proposals for publicans will be:
- The proposal to abolish the enforcement of upward-only rent reviews;
- The requirement that pub companies are transparent in their dealings with their tenants as regards charges made for dilapidations and the like; and
- The requirement that pub companies are transparent with regard to the sharing of income – in particular as regards gaming machines and the like.
There will also be a number of support services set up to provide information and advice to pub tenants.
For assistance in negotiating any commercial lease, contact us.