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06.06.2014 12:34 Age: 4 yrs
Category: General News

Help for pub tenants under new code of practice

At NRS Accountants, we are proud of our relationship with pub tenants, which endure through good, and challenging, times.

Which is why we were interested to hear about the introduction of new rules to help pub tenants struggling to pay rent or beer costs.

Drawn up by the Department for Business, Innovation and Skills, the statutory code includes:

• The right to request a rent review after five years;

• The appointment of an independent adjudicator with the power to enforce the code, investigate breaches and impose sanctions, including financial penalties, on pub owners if they fail to comply.

• The right of tenant landlords to review the information pub companies used to determine a rent increase

• The right to choose whether to be tied for gaming machines

Tenants of companies owning more than 500 pubs will also have the right to request a “parallel free-of-tie rent assessment” to show whether they would be better off independently. However, the Government ruled out a guest beer option.

Business Secretary Vince Cable said of the new rules: “Far too many landlords feel their income is squeezed by big pub companies. We are taking action to make sure they get a fairer deal."

Deputy Prime Minister Nick Clegg added: “These new rules will give fairer treatment for landlords so that they can keep your local pub going strong.”

The NRS team will be studying the code closely to ensure we continue to provide the best advice to pub tenants.

For more information on how we can help you manage your pub more effectively and keep the books in healthy shape, call us on 01905 622202.