RICS has published a new code of good practice on behalf of the Tenancy Reform Industry Group (TRIG).
The document aims to assist all those involved in negotiations to vary agricultural lease terms. Such negotiations will be vital if farmers are to respond to an array of new challenges such as EU withdrawal and climate change.
TRIG chair Julian Sayers FRICS said: 'I would commend the code to tenants, their landlords and professional advisors not only in respect of the specific amendments to the Agricultural Holdings Act 1986 which have recently been introduced but also the wider transition taking place within the agricultural industry. The code has been prepared by TRIG, which is made up of members of the leading organisations who represent those who with interests in the landlord tenant system and based upon their wide experience.
'There are many challenges facing all farming businesses including those in the tenanted sector but also opportunities to be embraced. This will lead to negotiations as between landlords and tenants which this code is designed to facilitate for the benefit of all concerned.'
The Code of Good Practice can be downloaded from the RICS website.