When the Code for Leasing Business Premises was launched in March 2007, the government announced its intention to monitor its impact.
The Department for Communities and Local Government has now commissioned research to gauge:
- how far the Code has been disseminated in the commercial property market and, specifically, the awareness of it among landlords, tenants and their professional advisers;
- the extent of active use of the Code documents in negotiations; and
- the sources of advice to tenants on the Code and their perceptions of its impact on leasing.
The research will be carried out by a team at Reading University, who carried out research into the impact of previous editions of the Code. The publication of the final report is due later in 2009.
Most landlords will be familiar with the landlord part of the Code. However, the commercial lease code is in three parts: the landlord code, the occupier guide and model heads of terms. The full code can be found here.