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14 February 2018 11:47:25 |Finance,Government,News,Property News

Farm landlords told to 'step back' from pushing higher rents due to 'uncertainty'

The Tenant Farmers Association has called for no pre-Brexit farm rent hikes

The Tenant Farmers Association has called for no pre-Brexit farm rent hikes

Landlords of farmland are being urged to "step back" from pushing higher rents during this year’s farm rent reviews.
While farm rent reviews can occur at any time of the year, they are traditionally grouped around February/March and September/October.
Notices for these reviews would have been served at least 12 months prior to the review date.
The Tenant Farmers Association (TFA) has issued out the advice, saying the "uncertainty" of the next few years should be signalling a "steady as you go" approach.
“Any dialogue between landlords and tenants would be better spent on working jointly to consider how to meet the challenges and opportunities which lie ahead,” TFA Chief Executive George Dunn said.
With 29 March 2019 being the likely date that the UK will leave the European Union, the TFA said it would be more sensible to postpone discussions about rents until the autumn of next year or the spring of the year following.

Mr Dunn added: “We have some indication of how the Government intends to allow a period of transition beyond the point we leave the European Union, but nothing is guaranteed at this stage.
“The UK is entering into some tricky negotiations with the European Union and until we have an agreed settlement covering all of the separation issues, predicting future profitability of the industry, with any degree of certainty, will be impossible. Therefore, it is best to park discussions on rent until later in 2019 at the earliest.”.
“That is not to say that landlords and tenants should not be in dialogue at this time. Indeed for such a time as this, it is vitally important that landlords and tenants stay engaged,” said Mr Dunn.


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