Code for Leasing Business Premises (Structure and content of a lease)- FS

Question 1

What is the Code for Leasing Business Premises?

Answer 1

A professional code of practice issued by the Royal Institution of Chartered Surveyors (RICS) to promote fairness, clarity, and collaboration in business lease negotiations.

Question 2

Is the Code for Leasing Business Premises legally binding?

Answer 2

No, it is not legally binding in general. It is mandatory only for RICS members and regulated firms, who must comply with its requirements.

Question 3

Who must comply with the Code for Leasing Business Premises?

Answer 3

Members of the Royal Institution of Chartered Surveyors (RICS) and firms regulated by RICS.

Question 4

How does the Code affect clients in lease transactions?

Answer 4

It helps ensure that clients receive clear, impartial advice, and that negotiations are conducted in a way that minimises disputes and confusion.