Financial Emergency Measures in the Public Interest (Reviews of Commercial Rents) Bill 2009

Public bill · Private Member · Introduced

The proposal would let the Government temporarily protect businesses from rent increases that can only go upwards under commercial leases. If it believed the economic crisis meant tenants could no longer fairly afford existing rents, it could issue an order covering particular types of premises or areas, for up to 24 months. While the order applied, a rent review could not set rent above the current market rent, based on comparable premises and assuming a new tenant took possession. The aim was to reduce pressure on struggling businesses and help protect jobs, while preventing lease terms or other agreements from bypassing the limit.

Formal long title

, in the public interest, to provide for the imposition by way of Government Order of a requirement that landlords charge market rents only in respect of commercial premises, and to provide for related matters

Last updated 17 April 2018