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One year Tenancy Agreement
The Trust Inns' Tenancy Agreement (1yr) provides an excellent opportunity for those wishing to take their first steps into a pub venture.
It falls within the Landlord & Tenant Act 1954 (excluding Scotland) and offers licensees all the protection afforded by that Act.
The main points of our agreement are laid out below:
Time Period: 12 months. This term will automatically roll over into a new 12 months term at each year end, unless notice is given by the tenant of the company of their desire not to renew.
Key Benefits:
- A barrelage discount scheme is in place offering competitive discounts per composite barrel on qualifying beers and ciders at the point of purchase from our nominated suppliers.
- There is no obligation to buy Wines, Spirits or Soft Drinks and these may be purchased from the supplier of your choice.
- Due to the flexibility of this agreement, at any time the tenant can give 6 months notice to terminate their tenancy agreement.
Assignability
Due to the shortness of the tenancy agreement it is non assignable.
The rent: This is an open market rent which reflects the provisions within the agreement. The rent is set for one year. At the end of each year a rent review will take place assuming the desire to rollover into the next term.
Brands on the bar
The tenant is Free of Tie on all wines, spirits and soft drinks, however you are obliged to purchase (commonly referred to as the tie) all draught and packaged beers, cider, perry and flavoured alcopops from the company or its nominated suppliers.
Responsibility for repairs
The tenant is responsible for interior decoration and all repairs except for structural repairs e.g. main walls, roof and foundations which the company maintains along with external redecorations.
Insurance
We will insure the building; this insurance cost is recharged on a monthly basis in the form of an Insurance Rent. The tenant must insure moveable fixtures and fittings and stock.
Machines
Income from all AWP/Pool/Multimedia machines is split 50/50 between the lessee and the company.
