Mothball’s 3 simple steps to save up to 100% of your empty rates
Mothball provides a tenant that enters into a unique, fit for purpose lease on your vacant commercial property.
The lease has been meticulously worded to be clear and transparent to all relevant parties.
The purpose of the lease is to transfer the rates liability from you to the tenant, mitigating your rates liability.
The tenant has the right to sole and exclusive occupation but does not occupy the premises.
Our fit for purpose lease
Our lease has proven to be a legally effective device in the High Court and the Court of Appeal.
The key features of the lease, prepared at our cost are:
- Three year term
- Outside of the Landlord and Tenant Act 1954
- Not registered with the Land Registry – there is no requirement to do so
- Immediately executable break clause (full or partial) to allow full flexibility
- The only liability that transfers to the tenant is the rates, all other liabilities remain with landlord, i.e. insurance, security, utilities, etc.
- £1 per year rent (if demanded)
On completion of this lease you will have successfully transferred the rates liability to our tenant company.