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Monthly rents meeting statement

This statement follows a meeting yesterday concerning retail leases and requests from some occupiers for their leases to be changed from quarterly to monthly rates.

These are the conclusions of the Owners' and Occupiers' Property Forum meeting on 10 September:

- The Forum recognised that over the last year monthly payment terms had been agreed on new lettings and, in keeping with the 2007 Lease Code, monthly payment should be considered, if requested, on new leases and at renewal.

- In return for monthly terms it was agreed that it was acceptable practice to require payment by electronic means.

- Landlords were encouraged to be open to discussing possible revisions to existing lease terms to incorporate monthly payments, but the Forum recognised that these discussions would have to take account of the implications for both parties.

- Landlords are encouraged to respond positively to requests for changes to payment terms that ease cash flow pressures for occupiers facing financial difficulty, who in turn are advised to open discussions with their landlords at the earliest opportunity.

For more information contact BPF press office 020 7802 0113 / www.bpf.org.uk