BRC 'calls for advance monthly rents'

The British Retail Consortium (BRC) is urging commercial property landlords to accept rents monthly in advance as the global economic downturn hits businesses.

It is understood that pension fund manager Hermes has called on landlords to switch to the monthly advance payment system in preference to traditional quarterly terms in light of difficulties hitting the retail sector.

BRC director general Stephen Robertson stated that Hermes' announcement to renegotiate existing leases represents a significant step in the campaign to have the system universally applied.

"I urge all landlords to follow Hermes' example. By agreeing to a fairer rents regime, landlords will be contributing to the retail prosperity on which they themselves depend," he said.

Mr Robertson added that there is no principled or practical reason as to why "landlords cannot offer this flexibility".

Meanwhile, it has emerged that the Energy Performance Certificate scheme due to be introduced this week could suffer from a lack of assessors, according to a Sunday Telegraph report.

Martin Slowe Property Services are Commercial Property Consultants offering a full range of Commercial Property Services.