Earlier this year the council announced that the threshold for empty business rates would drop from £2,600 from £18,000. This means that more commercial properties would fall out of this exemption and would be liable for rates to be paid by the landlord or the tenant.
Shops and offices are exempt for the first three months after the property becomes empty and industrial units are exempt from rates for the first six months. After this period full rates will become payable.
Landlords that have unoccupied properties that could consider granting short terms leases at a lower rent to attract a tenant and then agree terms that the tenant must pay all outgoings including the rent. Provided the lease is for 6 weeks or more, when the lease finishes the landlord can take advantage of the rate free period again for 3 or 6 months. This could save the landlord a considerable sum of money.
If you are considering granting a short lease and require a solicitors to assist you with this then please contact me Christie Limb at email@example.com I would be happy to provide you with a competitive quote.