As a member of the Commercial Property Group Panel, I responded to the Lords’ inquiry into High Streets. An important question that was asked was “Who is involved in ensuring a thriving local high street?” I believe customers, landlords, tenants, and the RICS are the major players here.
In my experience as a landlord representative, I found that many #SME tenants did not use representation when agreeing to leases. Now working under Olawill as a tenant representative, I find myself having conversations trying to explain why it’s important to have a surveyor. I have clients that get it and enjoy working with them, but there is a section of tenants that never get representation when agreeing to a lease.
I know I am in danger of falling foul of my university lecturer’s adage of, “Oranges sellers only sell oranges🍊,” however the dangers of poor or lack of surveyor representation are still evident, examples being leases and terms that are not the most optimal for the SME’s situation at best and downright rip-offs at worst.After advising one such client, they said they were glad to have someone available to them to have a sounding board in such a difficult process. Our advice allowed them to be objective in their negotiations and decision-making when it came to agreeing the lease. When I was working as a landlord’s representative, I always recommended a surveyor to unrepresented tenants which is in line with RICS’ guidance but also because I always found it easier to work with another surveyor, especially when they were good!.
I think we need to go further. The RICS’ and its members’ role in this matter is to ensure that SME tenants have #affordable lease advisory options and that landlord representatives behave in a fair manner, follow RICS guidance and refer them to get advice from trusted RICS surveyors.
I understand there is no such list of trusted tenant surveyors to ensure SMEs get the support they need but I am happy to start one🙋♂️. If you are a landlord’s representative and want to collaborate to ensure a fairer marketplace. Reach out to Olawill today!#blueskythinking #leaseadvisory