Consultation by RICS on revised Code for leasing business premises
The Royal Institute of Charted Surveyors has published a consultation (click to see in a new window) on replacing replace the current Code for Leasing Business Premises in England and Wales 2007, which is voluntary. It proposes mandatory requirements requiring compliance by any agent or landlord who or which is an RICS member or registered firm. It also discusses new areas of best practice raising the possibility that failure to act in accordance with the Code may result in a finding of negligence against a surveyor. The proposals include:
• obligatory written heads of terms including the requirement to include certain information;
• an updated template for heads of terms that mirrors the proposed Code, and a checklist;
• an updated occupier’s guide.
The consultation closes on 12 April 2018.