Outgoings estimate

It is a require­ment under the Retail Leas­es Act 2003 Sec­tion 46 for Land­lords to pro­vide Ten­ants an esti­mate of out­go­ings for the forth­com­ing finan­cial year in the month pri­or. We com­plete these in May of each year. The esti­mate is not only a require­ment under the Act but also assists ten­ants with bud­get­ing. Out­go­ings esti­mates are some­thing often over­looked by those who might self-man­age or inex­pe­ri­enced com­mer­cial prop­er­ty man­agers. If you have any ques­tions about this top­ic or would like an oblig­aiton-free dis­cus­sion about work­ing with us please don’t hes­i­tate to get in contact.

Below is an extract from The Act:

The ten­ant must be giv­en the esti­mate of outgoings—

(a) before the lease is entered into; and

(b) in respect of each of the land­lord’s account­ing peri­ods dur­ing the term of the lease, at least one month before the start of that period.

The ten­ant is not liable to con­tribute to any out­go­ings of which an esti­mate is required to be giv­en to the ten­ant as set out in this sec­tion until the ten­ant is giv­en that estimate.