Profit and leasehold

Article Abstract:

The UK Accounting Standards Board have issued a discussion paper relating to how leases are featured in commercial accounts. The consultation period is likely to last until 2001. The changes to the rules have been called for because the SSAP 21 is seen as being inflexible and at times not definitive. The need to disclose the rent liabilities of operating leases is not always necessary under the current SSAP 21. The changes are likely to lead to tenants wanting shorter leases. Property investors will be obliged to take on more risk and therefore may want to be involved in managing the property.

United Kingdom, Accounting

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High roads to rent recovery

Article Abstract:

The Scottish landlord and tenant legislation includes a hypothec action as a method of recovering rent arrears from a tenant. A judge must sign a warrant after a writ has been prepared. Sheriff's Officers list all articles in the tenants premises including third-party goods. The landlord is able to retain the goods until the rent arrears have been paid. The cost of an action is under 500 pounds sterling. A second method of recovering rent arrears can be through summary diligence. Standards recovery procedures can commence once a landlord has an extract registered lease.

Scotland, Landlord and tenant, Landlord-tenant relations

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Location, relocation, relocation...

Article Abstract:

Companies considering relocation must check whether their lease has a break clause allowing them to terminate the lease arrangements. If there is no break clause, then the landlord is not obliged to take an early termination of the lease. It may not be possible to sell the lease, and it may therefore be appropriate to consider underletting the premises. The main lease terms that must be considered relate to repairing obligations, particularly with existing older buildings.

Planning, Business relocation

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