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Tenants should consider pushing for rent review since EU exit >More in
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Tenants must lead the conversation on rent reviews to ensure a fair value and secure their businesses for the future, say advisers.
Following the government’s recent announcement outlining the Basic Payment Scheme (BPS) reduction rates for 2021 to 2024, tenants may consider requesting a rent reduction.
In addition, experts say the UK’s exit from the EU and uncertainty surrounding how this will affect trade is more of a consideration than the BPS change when it comes to rent values.
However, some tenants may be better served by negotiating improved agreement terms such as greater opportunities to diversify, rather than a rent reduction.