Monthly rent payments

A draft rent variation letter has been posted on the British Retail Consortium website. It is intended to operate as a formal waiver of the requirement to pay rent quarterly, to facilitate a transfer from quarterly to monthly rental payments. Landlords should tread carefully: this draft is prepared on behalf of a tenants’ representative body, and does not take the sensible step of advising landlords that any guarantor of the tenant’s obligations should be asked to signify its consent to the variation in case it operated to release the guarantor. Read more about varying rental payments at http://www.propertypsl.co.uk/node/228