Leasing and Letting Flashcards
1
Q
What is the RICS Professional Standard for leasing and letting?
A
RICS Professional Standard: Code for Leasing Business Premises (2020)
2
Q
What is the objective of the Code for Leasing Business Premises?
A
Improve the quality and fairness of negotiations on lease terms and promote use of comprehensive heads of terms to make legal drafting of leases more efficient.
3
Q
What would you expect to see in Heads of Terms?
A
- Identity and extent of premises.
- Special rights granted such as parking or telecom/data access.
- Length of term and tenure.
- Options for breaks.
- Guarantor or rent deposit.
- Rent.
- Rental incentives.
- Service Charge.
- Alienation.
- Alterations.
- Repairs.
- Permitted use.
- Rent reviews.
