{"id":180123,"date":"2023-03-21T05:15:47","date_gmt":"2023-03-21T05:15:47","guid":{"rendered":"https:\/\/legalvision.co.uk\/?p=180123"},"modified":"2024-05-09T07:45:15","modified_gmt":"2024-05-09T06:45:15","slug":"code-for-leasing-business-premises","status":"publish","type":"post","link":"https:\/\/legalvision.co.uk\/commercial-lease-property\/code-for-leasing-business-premises\/","title":{"rendered":"What is the Code for Leasing Business Premises?"},"content":{"rendered":"<p><span style=\"font-weight: 400\">As a UK commercial landlord, you must understand your lease agreement and commercial leasing property laws. It is also helpful for you, as a property professional, to understand and abide by the Code for Leasing Business Premises. Although this is voluntary, ensuring your lease complies with it is advisable and good practice. It will help guide you about what should be in a lease, including lease negotiations. This article explains what you need to know about the Code for Leasing Business Premises.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">What is the Code?\u00a0\u00a0<\/span><\/h2>\n<p><span style=\"font-weight: 400\">The Code for Leasing Business Premises in England and Wales by the <\/span><a href=\"http:\/\/www.rics.org\/\"><span style=\"font-weight: 400\">Royal Institution of Chartered Surveyors<\/span><\/a><span style=\"font-weight: 400\"> (RICS) represents commercial landlords and commercial tenants. It is in place to try to:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">encourage fair commercial leases for both landlords and tenants;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">ensure a clear head of terms;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">ensure that parties adhere to the lease;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">make landlords and tenants more aware of typical property issues; and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">help commercial tenants negotiate good deals in commercial property space.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-weight: 400\">In addition to an introduction, the Code consists of three parts:<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">mandatory requirements for commercial landlords;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">best practice for landlords;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">appendices with a heads of terms template, a checklist and guide for landlords and tenants on commercial leases.\u00a0<\/span><\/li>\n<\/ol>\n<h2><span style=\"font-weight: 400\">Is the Code Mandatory?<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As a commercial landlord, you do not have to abide by the Code for Leasing Business Premises. However, the UK Government encourages those in the property industry, including commercial landlords, to comply. Where you abide by the Code, you have a Code-compliant lease. The Code can be particularly beneficial for small businesses.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">However, if you are an RICS member\/regulated firm, the Code is a \u2018practice statement\u2019, and parts of it require your compliance. Whilst you may not be a RICS member, it is important to understand that your agents may be. <\/span><span style=\"font-weight: 400\">The mandatory elements include the following:<\/span><\/p>\n<ul>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">to ensure that you negotiate a lease with your tenant \u2018in a constructive and collaborative manner\u2019;\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">where any party to the lease does not have legal representation, to recommend that they do and let them know that the code exists; and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">to provide written <\/span><a href=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/four-key-points-heads-of-terms\/\"><span style=\"font-weight: 400\">heads of terms<\/span><\/a><span style=\"font-weight: 400\"> with specific details such as length of term, break clause rights and details of <\/span><a href=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/landlord-increase-rent\/\"><span style=\"font-weight: 400\">rent reviews<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/li>\n<\/ul>\n<div class=\"box box--icon box--star\">\n<p><span style=\"font-weight: 400\">It is helpful for you to use the Code as it will assist you when negotiating heads of terms with your tenants and where disputes arise. Heads of terms are the key written terms you both intend to include in the <\/span><a href=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/types-commercial-leases\/\"><span style=\"font-weight: 400\">commercial lease agreement<\/span><\/a><span style=\"font-weight: 400\">.\u00a0<\/span><\/p>\n<\/div>\n<p><span style=\"font-weight: 400\">Also, as one of the purposes of the Code is to try to encourage parties to a lease to adhere to it, it is to your benefit to ensure your lease complies. Even if you do not comply with the Code, you may find using it as a reference tool when creating commercial lease agreements very helpful. Likewise, you can access the heads of terms template. However, we recommend you always take legal advice when creating commercial leases.<\/span><\/p>\n\n<a href=\"#content-next\"\n   class=\"block p-4 mt-10 text-xl font-bold text-center text-white no-underline bg-gray-800 rounded-t-xl\">\n    Continue reading this article below the form\n    <i class=\"text-xl fa-regular fa-arrow-down\"><\/i>\n<\/a>\n<div class=\"px-6 pt-10 pb-12 mb-10 text-center bg-gray-100 rounded-b-xl sm:px-12 test\">\n    <div class=\"mb-8 text-2xl font-bold text-orange\">\n        Need legal advice?\n        <br>\n        <span class=\"text-lg not-prose\">\n                            Call <a href=\"tel:+448081968584\" class=\"not-prose\">0808 196 8584<\/a> for urgent assistance.\n                <br>\n                Otherwise, complete this form, and we will contact you within one business day.\n                    <\/span>\n    <\/div>\n\n    \n\n<div class=\"not-prose flex justify-center text-left gform_input_bg_white    \">\n    <script>\nvar 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It covers the following points and areas;<\/span><\/p>\n<ol>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">being clear about what premises you lease, such as the extent of it and granting the <a href=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/commercial-tenant-rights\/\">rights your tenant will need<\/a>;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">ensuring clarity on the length of the term, which includes, for example, <\/span><a href=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/renewing-commercial-lease\/\"><span style=\"font-weight: 400\">renewal rights<\/span><\/a><span style=\"font-weight: 400\"> and break rights;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">giving specific details about rent deposits and any details needed for guarantors;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">ensuring that the rent amount and details about rent review are clear, for example, frequency and type of review;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">ensuring clarity of costs in the lease, such as service charges and insurance costs;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">providing clarity over what a lease should allow in terms of assigning, subletting, charging and sharing of the lease;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">details of repair obligations;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">details about a change of use, alterations and fit-out, including that the former two are only as restrictive as needed;\u00a0<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">specific requirements in terms of lease insurance and damage;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">details of management and operational performance;<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">EPC obligations in the lease; and<\/span><\/li>\n<li style=\"font-weight: 400\"><span style=\"font-weight: 400\">provisions concerning a landlord\u2019s titles.<\/span><\/li>\n<\/ol>\n<h2><span style=\"font-weight: 400\">Key Takeaways<\/span><\/h2>\n<p><span style=\"font-weight: 400\">As a commercial landlord, your commercial lease will set out key terms, including obligations for you and your commercial tenant. It is in your interest to ensure the lease is fair, as it will help encourage your tenant to adhere to the lease terms. One way to help ensure this is to comply with the RICS Code for Leasing Business Premises. The Code provides best practices in commercial leases, such as what a lease should detail, including details about rent review and break clauses. It also contains mandatory requirements for RICS members when negotiating commercial leases. Whilst the Code is not a legal requirement, the UK Government encourages compliance and can help you understand best practices in the property industry.\u00a0\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">If you need help understanding commercial leases, including the Code for Leasing Business Premises in the UK, our experienced <\/span><a href=\"https:\/\/legalvision.co.uk\/leasing-lawyers-lp\/\"><span style=\"font-weight: 400\">leasing lawyers<\/span><\/a><span style=\"font-weight: 400\"> can assist as part of our LegalVision membership. For a low monthly fee, you will have unlimited access to lawyers to answer your questions and draft and review your documents for a low monthly fee. Call us today on <a href=\"tel:+448081968584\" class=\"AVANSERnumber dynamic-number\">0808 196 8584<\/a> or visit our<\/span>\u00a0<a href=\"https:\/\/legalvision.co.uk\/membership\"><span style=\"font-weight: 400\">membership page<\/span><\/a><span style=\"font-weight: 400\">.<\/span><\/p>\n<h2><span style=\"font-weight: 400\">Frequently Asked Questions<\/span><\/h2>\n\n\n<div class=\"schema-faq wp-block-yoast-faq-block\"><div class=\"schema-faq-section\" id=\"faq-question-1679375492454\"><strong class=\"schema-faq-question\"><strong>What is a commercial lease?<\/strong><\/strong> <p class=\"schema-faq-answer\">A commercial lease is where you, as a landlord, allow another business to occupy your property for a specific term and use it in return for rent payments.\u00a0<\/p> <\/div> <div class=\"schema-faq-section\" id=\"faq-question-1679375505288\"><strong class=\"schema-faq-question\"><strong>What is the Code for Leasing Business Premises in the UK?<\/strong><\/strong> <p class=\"schema-faq-answer\">The Code for Leasing Business Premises in the UK by RICS details best practices for commercial leases to ensure that leases are fair for both landlords and tenants. Whilst it is best practice and not a legal requirement, some parts are mandatory for RICS members.<\/p> <\/div> <\/div>\n<div class=\"not-prose m-feedback-prompt\">\n    <!-- Thumbs up\/down bar -->\n    <div class=\"m-feedback-prompt__main\">\n        <div class=\"m-feedback-prompt__title\">Was this article helpful?<\/div>\n        <div>\n            <!--span class=\"m-feedback-prompt__button--text\">Thanks!<\/span-->\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--yes\"\n                    data-analytics-link=\"feedback-prompt:yes\" aria-label=\"Agree\">\n                <i class=\"fa-regular fa-thumbs-up fa-3x\"><\/i>\n            <\/button>\n            <button type=\"button\" class=\"m-feedback-prompt__button m-feedback-prompt__button--no\"\n                    data-analytics-link=\"feedback-prompt:no\" aria-label=\"Disagree\">\n                <i class=\"fa-regular fa-thumbs-down fa-3x\"><\/i>\n            <\/button>\n        <\/div>\n    <\/div>\n\n    <!-- Feedback form -->\n    <div class=\"m-feedback-prompt__form\">\n        <div class=\"m-feedback-prompt__form--thanks \">\n            <div>Thanks!<\/div>\n            <p>\n                We appreciate your feedback \u2013 your submission has been successfully received.            <\/p>\n        <\/div>\n        <form id=\"contact-form\" class=\"m-feedback-prompt__form--form\" action=\"\" method=\"post\">\n            <input type=\"hidden\" id=\"authenticity_token\" name=\"authenticity_token\" value=\"9eb4f72322\" \/><input type=\"hidden\" name=\"_wp_http_referer\" value=\"\/api\/wp\/v2\/posts\/180123\" \/>            <input value=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/code-for-leasing-business-premises\/\" type=\"hidden\" name=\"currenturl\"\n                   id=\"currenturl\">\n            <input value=\"What is the Code for Leasing Business Premises?\" type=\"hidden\" name=\"currenttitle\"\n                   id=\"currenttitle\">\n            <label>\n                <!-- display on thumbs-up -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--yes\">\n                    Can you tell us <span class=\"font-semibold\">why<\/span> you found it helpful?\n                <\/span>\n\n                <!-- display on thumbs-down -->\n                <span class=\"m-feedback-prompt__feedback m-feedback-prompt__feedback--no text-lg\">\n                    How can we better improve this article?\n                <\/span>\n                <textarea name=\"feedbackmessage\" id=\"feedbackmessage\" required><\/textarea>\n            <\/label>\n\n            <div class=\"m-feedback-prompt__form--error\" id=\"form-submit-error\"><\/div>\n            <button id=\"submit-contact-form-button\" type=\"submit\" name=\"commit\" class=\"m-feedback-prompt__form--submit\"\n                    data-analytics-link=\"feedback-prompt:submit\">\n                Submit            <\/button>\n        <\/form>\n    <\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>As a UK commercial landlord, you must understand your lease agreement and commercial leasing property laws. It is also helpful for you, as a property professional, to understand and abide by the Code for Leasing Business Premises. Although this is voluntary, ensuring your lease complies with it is advisable and good practice. It will help<a href=\"https:\/\/legalvision.co.uk\/commercial-lease-property\/code-for-leasing-business-premises\/\">Continue reading <span class=\"sr-only\">&#8220;What is the Code for Leasing Business Premises?&#8221;<\/span><\/a><\/p>\n","protected":false},"author":13326,"featured_media":3180,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"174700,4367,179857,174904,172998,178444","_relevanssi_noindex_reason":"","editor_notices":[],"footnotes":""},"categories":[30],"tags":[20,21,475,1280,1281],"class_list":["post-180123","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-commercial-lease-property","tag-small-business","tag-medium-business","tag-lease-agreement","tag-code-for-leasing-business-premises","tag-royal-institution-of-chartered-surveyors"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.1.1 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>What is the Code for Leasing Business Premises? | LegalVision UK<\/title>\n<meta name=\"description\" content=\"The RICS Code for Leasing Business Premises provides best practices in commercial leases in the UK. 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