Members of the Property Industry Forum have agreed a strict timetable for drawing up a new voluntary code of practice on flexible commercial leases, following a meeting between the Forum and DTLR Minister Sally Keeble.
The timetable will require the Forum to produce outline proposals by the end of October 2001, and a full draft for consultation by the end of January 2002, which will come into effect at the end of March 2002.
Keeble said: “So far, landlords’ and tenants’ representatives have been unable to agree voluntary proposals. I am convinced that self-regulation provides the best way forward. However, if the agreements reached today are not carried forward, we will be looking at other options, including legislation.”
The Forum includes the BPF, the RICS and the Association of Property Bankers.
EGi News 01/08/01
