Scared of landlords
TOO few tenants are taking action to cut their rents for fear of upsetting landlords, says Mark Saunders of Taunton-based Carver Knowles.
"Tenants seem to forget that, until recently, landlords have taken every opportunity to go for rent increases, so they should not be taking a softly-softly approach."
Most arable farming tenants will be making a loss next year, and the outlook remains uncertain.
"Three years ago arable rents were set at £55-£75/acre. A lot should now be in the £40-£50/acre region. Most landlords accept that rents do not just go in one direction. Under the circumstances, they will not be surprised to receive a request for a reduction in rent."
Tenants with Lady Day tenancies who served a notice last year should start negotiations now, says Mr Sanders. "Landlords will be sitting quietly, hoping nothing happens." Others with rents due to be reviewed in March 2000 should serve a Section 12 notice, he adds. *