News & Insights
It’s been months of work, born from decades of inequality in the property market, but the Commercial Tenants Association has officially launched.
The CTA aim to give commercial tenants of all sizes, and from all sectors, the support they need as well as a collective voice.
Founded by Peter Bell, an award-winning businessman who’s spent 25 years working in the commercial property sector, it was seeing clients treated badly by their landlord which sparked the idea.
A recent survey conducted by the CTA of over 1,100 commercial tenants confirmed what he’d witnessed wasn’t an isolated case. The results showed that:
• 75% of respondents are dissatisfied with their treatment as customers
• 88% lack the expertise to deal with key tenancy issues and struggle to find the support and advice they need.
The CTA aims to support tenants across all sectors by providing expert advice and helping them navigate the complexities and issues associated with commercial tenancy. It will also be a powerful voice in driving a change in landlord and tenant relationships, ensuring tenants get treated fairly and like valued customers.
Commercial property leases are mostly stacked against the tenant focusing on their obligations but not the landlords. There is often no service level agreement clearly setting out what tenants can expect from their landlord.
Tenants also have to contend with upward only rent reviews, eviction moratoriums and dilapidations. The CTA aims to address this imbalance.
It is Peter’s belief that happy tenants will subsequently make happy landlords because it removes friction and the often adversarial nature of the tenant/landlord relationship.
The launch of the CTA comes when a year of lockdown restrictions has put many businesses under extreme financial pressure. It will give members access to valuable lease and occupancy information, updates on changes to legislation and independent advice from CTA-accredited experts.
Peter said: “With so many businesses struggling as a result of the pandemic, it is now more important than ever for there to be a platform that helps and supports tenants, who deserve to be treated as customers. We’re providing a safe forum for discussion and, most importantly, an organisation which will vehemently fight for the rights of tenants, which is frankly long overdue in an industry which has always been dominated by behemoth landlords.”
To find out more about membership of The CTA and how we help commercial tenants of all sizes, click here.