Tenant Farming Commissioner offers advice on rent reviews
The Tenant Farming Commissioner is advising landlords and tenant farmers to think carefully about the timing of rent reviews, given the current Coronavirus (COVID-19) lockdown constraints and uncertainty over future economic conditions in the sector.
Tenant Farming Commissioner, Bob McIntosh, said:
‘’Landlords and tenants are advised to postpone rent reviews due this spring, unless these are likely to be straightforward and can be concluded without the need for a face-to-face meeting. Many rent reviews will involve a need for a site meeting and inspection of the farm in question as well as comparable farms offered as evidence. It is important that no landlord, tenant or agent feels pressurised to hold such a meeting until the lockdown arrangements are appropriately relaxed. If this means that a rent review has to be delayed, this is a small price to pay to ensure the continued health of the parties involved.
“It is also the case that COVID-19 and Brexit are having, and likely to have, a significant impact on Scotland’s economy and the profitability of the agricultural sector. No one can predict with any certainty what economic conditions will look like in the sector in 12 months’ time.
“For these reasons, and the possibility of the introduction of a new rent review system this year, landlords and tenants are advised to think carefully about whether this is an appropriate time to conduct a rent review that is other than straightforward and uncontentious.’’
For more information and guidance about conducting rent reviews visit landcommission.gov.scot/tenant-farming or get in touch on 01463 423 300 or email email@example.com.