I sold my catering business with a new 15 years lease. I am now responsible for the rent until I am 72 years of age. If any business defaults during this time the Landlord can come back to me for the rent, his costs and depreciations.. The Act states that the Landlord should NOT be held responsible for any costs. The rent now stands at £21,000 a year. How on earth are we supposed to find the money if the person whom we sold the business to, or their successors defaults. This act has no place in the 21st century. The Federation of Small Business's have been calling for a change for years.  If I sold a leasehold flat I would not be responsible for the rent, so why Commercial properties. Our Landord deceided to do £15, 000 worth of repairs to HIS building, which I had to pay for. I had to sell the business to pay HIS bills.

This Act should be moderated so that greedy Landlords and tenants should have the same rights. It is HIS building so he should be responsible to see that it is tenanted, not the previous owners.

Why is this idea important?

This will make business owners more likely to rent a leasehold property. There are some Landlords who are flexible but many are not. If when a business is sold the owner can just walk away with no come back in the future, it should persuade more people to give it a go.

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