The British Beauty Council is working across industries to ensure a fairer deal for businesses that lease premises in the UK’s city centres and high streets. We want to see an end of the ‘upward-only rent review’.
Many commercial leases are drafted in favour of the landlord, and often contain a ‘upwards-only rent review’. This allows landlords to increase the rent over the term of the lease, which can have leave business owners locked into lease agreements they simply can’t afford.
In 2003, Australia passed a law which banned the practice of ‘upwards-only rent reviews’ as it was seen to be exploitative. This was followed by Ireland in 2010 who produced a similar ban.
The British Beauty Council is working with the Commercial Tenants Association, who have created a short survey which will help to identify how widespread the issue is, as well as identifying the businesses most vulnerable to this kind of practice.
If you rent a commercial property and want to see an end of ‘upward-only rent reviews’, we want to hear from you. Take the short, 5 minute survey, .
The closing date for the survey is 27th May.
