Turnover Rents - Legal Developments & Their Impact on the High Street

Introduction

Turnover Rents have become more popular, particularly with the perilous state of the high street for new start-up shops.

However, dealing with them correctly for either a landlord or a tenant needs more than using an off-the-shelf precedent. A detailed understanding of the tenant's proposed business is needed to work out what should be excluded or included to a result that is fair and workable.

Plus, we will look at how the proposed ban on Upward Only Rent Reviews will apply to Turnover Rents, both for existing leases and what we might put in new leases subject to the ban.

This virtual classroom seminar will also look at the key provisions in both the Modern Commercial Lease turnover lease and the Practical Law one.

What You Will Learn

This live and interactive course will cover the following:

• Structure - full turnover - base rent plus turnover?
• What percentage
• For how long - revert to UORR?
• Caps?
• Service charges and insurance, too?
• Keep-open covenants
• Showrooming
• Concessions
• Alienation
• Payment mechanics
• Turnover is not profit
• What is turnover?
• Returns, theft, waste, etc
• The UORR ban - what will be the effect on Turnover Rents?

Recording of live sessions: Soon after the Learn Live session has taken place you will be able to go back and access the recording - should you wish to revisit the material discussed.