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THE ARCH COMPANY • CUSTOMER HANDBOOK
THE ARCH COMPANY • CUSTOMER HANDBOOK
MARKET RENTS
We look at evidence from within our estate and similar properties owned by others (including non-arch type properties) in the same locality when considering market rental levels for either rent reviews or tenancy renewals. Alongside this evidence, our team review the specific terms of the Occupation Agreement, the use, size, location, configuration, and condition of the property in question in order to reach an assessment of market rent.
Please help us to help you by providing financial information (such as audited accounts) where possible to help us understand any affordability issues.
TENANCY TERMS
For all new or contracted out tenancies we typically agree Occupation Agreement of three years in duration and, in some cases, may be able to extend further. Longer term Occupation Agreements may contain landlord breaks and customer breaks. Lease renewals under the Landlord and Tenant 1954 Act will be treated in line with the Act.
SUPPORT AVAILABLE
We encourage you to engage with us once notices are served, or before. Your Transaction Manager will make themselves available either in person or over the phone. We actively encourage you to seek professional advice, such as lawyers or RICS Surveyors, and we will happily engage with your appointed representative directly should you wish.
AFFORDABILITY
There are also a number of independent customer and SME business groups available to advise customers including:
We know that some customers might have affordability issues. In these specific cases, we are committing to work with long-standing small businesses and not-for-profit organisations (businesses and organisations that have occupied our properties for 10 years or more) on an individual basis to agree suitable rent profiles.
The Federation of Small Businesses T: 0808 2020 888 www.fsb.org.uk British Chamber of Commerce T: 020 7654 5800 www.britishchambers.org.uk
We may, for example, look to introduce the following to assist you with affordability:
• Rent increases made in steps over an agreed period meaning that you’d have time to adapt to open market rents
• Relocation options suited to your business requirements where the rent level may be more affordable, for example smaller premises or alternative locations • In exceptional circumstances, we may look to determine your rent level as a function of your business turnover These options are specifically for customers who evidence affordability issues. If this applies to you, discuss it either with your Transaction Manager (during rent reviews or lease renewals) or your Property Manager (outside of these events).
You may wish to consider taking such advice around events such as rent reviews, lease renewals, applications for alterations, and the end of your tenancy.
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