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Move to Monthly Rents in Commercial Leases

The British Retail Consortium has stepped up its campaign to force landlords to accept rent monthly in advance rather than on the usual quarter days as has previously been the practice. They have produced template letters for tenants to send to landlords to seek alterations in their leases to allow for monthly payment of rent.

It is, of course, one thing for large retailers who, irrespective of the financial situation retain enormous financial muscle, to demand changes to rent payment provisions and quite another for the average small retailer to do so. However, other than the slight inconvenience of collecting rent monthly there seems few sound reasons for landlords not to accept a move to monthly rent and most new commercial leases stipulate monthly rental payments. The fact that the government also backs such a change is also a powerful force.

More information including the various templates can be found at the rent monthly website.

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