Tenancy law will be more flexible thanks to almost four years hard work by the NFU and key stakeholders in the Tenancy Reform Industry Group (TRIG).
The law governing Farm Business Tenancies is undergoing its first changes since FBTs were introduced by the Agricultural Tenancies Act 1995. At the same time, amendments are also being made to the Agricultural Holdings Act 1986. The changes are being implemented through a Regulatory Reform Order and were negotiated by the entire industry working as part of TRIG.
The changes reflect the needs of everyone involved and will see:
· increased flexibility in rent reviews
· fairer provisions on end of tenancy compensation for improvements
· the possibility for traditional tenancies to have land added to them
· succession to traditional tenancies made more achievable for diversified businesses
NFU North West's tenants' spokesman Adam Briggs said: "The industry has worked hard, and on this occasion with Government, to secure these changes to agricultural tenancy legislation.
"While not all of the TRIG recommendations have been implemented, we are happy those that have will assist the tenanted sector to continue to adapt to the changing nature of the agricultural industry. This will give a solid base from which tenants can run their businesses.
"The Regulatory Reform Order was designed to be a quick mechanism for amending the law, but almost three years has passed since Government responded to the TRIG's recommendations.
"These delays have been frustrating for some tenants, but finally these changes will assist them in adapting their business to the changing economic environment in which tenants operate."
