The British Retail Consortium (BRC) is to launch a review of the new Lease Code to check its effectiveness
The Lease Code, which was launched in March to maintain a standard on lease agreements across the industry, will be ‘checked’ by the BRC through a survey of retailers, landlords, property agents and lawyers to see how effective it has been and what can be changed to improve its effectiveness.
The BRC will use the findings to gauge how much promotion and work is still needed. It will also constantly check and produce regular reports on the effectiveness of the code.
Paul Browne, head of property at the BRC, will announced the review at the Investment Property Forum’s Lease Code event tomorrow.
He said: ‘This is not about bullying or shaming landlords into compliance, it is about getting a better feel for how broadly the Lease Code has been adopted.
‘Everyone in the property industry has worked extremely hard to develop this code. The job is not finished though. We must make sure it is working on the ground.
‘The code has received strong support from the major landlords but we need smaller landlords, as well as property agents and solicitors, to use it too.’