In-house agreements suit some
SOME agents are drafting their own in-house FBTs and only referring to the various model agreements published.
"Long-term leases are tailored to the needs of each client and we use a firm of solicitors to prepare these," says Kit Harding of Alder King.
Flexibility is the key to ensure every circumstance is catered for and this is best achieved by using our lawyers, he adds. However, agreements for a three- to five-year term often follow the form drafted by the Royal Institution of Chartered Surveyors.
Cambs-based Bidwells has four specimen documents enabling different scenarios to be handled with consistency.
"The RICS produce one document to cater for all situations and we decided it wasnt comprehensive to our needs," one of the firms agents says.
But Robyn Peat of George F White maintains that the majority hes been involved with have followed the RICS format in principle. "Particularly its formula for identifying repairing liabilities which is very clear."