Interested in a “Market Rent Only” (MRO) Lease?

Don’t get caught out by the complicated legislation, tight timescales and tactics employed by Pub owning businesses (POB’s)

The first thing to know about the MRO rules is that there are a number of times where timescales within the process are very tight and if you miss the deadlines you could miss your opportunity to seek MRO. It is therefore advisable that you ask for our assistance immediately.

Examples of the tight timetable include:

  • The Tied Pub Tenant (TPT) only has 21 days to serve a Trigger Notice upon a Pub Owning Business (POB) after one of the 4 trigger events occurring. Accordingly a TPT needs to understand what a trigger event is and then act quickly to serve a valid MRO Notice within 21 days. (see our FAQ’s detailing “what is a trigger event”).
  • A TPT only has 14 days after receipt of a MRO offer to object to any of the proposed terms. The MRO offer will, almost certainly, contain an offer of a new lease which contains provisions that are far less favourable than your existing agreement.
  • There is a 56 day negotiating period from receipt of the MRO. If the parties cannot come to an agreement on rent after 28 days of negotiations, the TPT can request that the matter is referred to an Independent Assessor. This request must be made within 35 days.

You can guarantee that the POB’s all understand these deadlines and the tactics they can employ to seek an advantage over a TPT in the MRO process.

Pubhelp can help and guide you through your options. It may be that a Market Rent only lease is not right for you and we can help you evaluate the potential advantages and disadvantages to your business of going MRO.

If you decide that MRO would benefit you then Pubhelp will help and guide you through the complicated legislation and process.