Code For leasing Business premises

Question 1

What is the PS for leasing

Answer 1

Code for leasing business premises 2020

Question 2

What is the structure

Answer 2

1. Introduction
2. Mandatory Requirements
3. Lease Neg best practice
4. Appendices

Question 3

What do mandatory requirements of the code include?

Answer 3

Heads of terms ‘subject to contract’
Identity of premises 
Any special rights 
Length of term and whether LTA applies
Options for renewal or break 
Guarantor/rent deposit
Amount of rent
Whether LL wants to charge VAT
RF period 
RR 
Repairing obligations 
Permitted use 
Initial alterations or fit out

Question 4

What is in Part 3 of RICS Professional Statement

Answer 4

Lease Negotiations best practice

Question 5

What is in Part 4?

Answer 5

Model heads of terms
Useful checklist
Guidance