Property118 Landlord Insurance Achieves National Recognition

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Our landlord insurance partner – The Home Insurer – has been announced as a finalist in the 2019 Insurance Times Awards, marking it out as one of the very best landlord insurance brokers in the UK.

The Insurance Times Awards are the gold standard in the insurance industry and gaining a place as a finalist is reserved for the very best providers.

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Deep-dive interview with Mark Smith on landlord incorporation

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We will shortly be filming a ‘deep-dive’ interview with Mark Smith on all things to do with landlord incorporation.

If you have any questions on landlord incorporation or specifically about incorporation using BICT please let me know. I would also like to include questions from those who have already incorporated and are looking for pointers on any further restructuring which can be done.

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Gas Safety Week: What landlords need to know

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This week is Gas Safety Week, the annual awareness campaign run by the Gas Safe Register. To mark the start of Gas Safety Week, the Gas Safe Register has published six top tips for landlords and homeowners to follow to ensure that their tenants – and properties – are gas safe. These are: Only use […]

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Conference season: Lib Dem Peer says reform is vital for PRS

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Ahead of the Liberal Democrat Party conference, Peer and housing spokesman Lord Shipley shared details of the four reforms the party believes are vital to the future of the PRS in RLA members’ magazine Residential Property Investor. He said:  “One of my friends, who is a private landlord, recently asked me why so many politicians […]

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High Street landlords facing increasingly aggressive rents stance

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Commercial Rents:

High street
landlords are feeling the pain as retailers become more assertive
about the rents they are paying. An increasing trend is for retailers
to ask landlords for their rents to be linked to store turnovers.

Turnover rents are
rents payable by the tenant calculated either wholly, or partly, by
the actual turnover achieved by the tenant’s business, operated out
of the landlord’s premises. Leases based on this principle can be
used as an alternative to the more traditional forms of open market
rent leases, whereby the rent is determined by supply and demand and
a number of other local factors largely driven by market conditions.

To date turnover
rents have not been common in the UK, with most existing ones being
mainly confined to retail operations and almost exclusively used for
factory outlet centres, airports and railway stations.

However, with the
current battles on the high street, tenants are increasingly inclined
to demand rent reductions and in some cases are asking landlords to
bear some of their risks by demanding turnover rents.

On example of where
retail tenants are becoming much more assertive is the recent demands
made by H&M. The Swedish fashion retailer is not just asking for
standard turnover rent leases, it’s going a step further and
demanding that all sales items returned to store, including from
online purchases made, be deducted from that shop’s revenue.

The Swedish owned
fashion retailer group operates out of some 304 stores in the UK,
part of its global store estate, under names including H&M, H&M
Home, Monki, Arket and Weekday.

From Mike Ashley’s acquisition of House of Fraser to other leading brands, including Next, they are reportedly seeking rent reductions, some with turnover rent options.

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