The Lease Code is a voluntary code that aims to achieve fairness between landlords and tenants in leases of commercial properties. The Code was first introduced by the Royal Institution of Chartered Surveyors (RICS) in March 2007.
RICS has now finished a consultation period on a new draft Code to replace the 2007 Code. Many of the provisions of the new Code will overlap with the 2007 Code, the main difference being that whereas the 2007 Code is voluntary, the new Code will include a number of mandatory requirements for agents and landlords who are RCIS members.
Keep an eye out for our blog when RICS publish details of the new Code and the implementation date.
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