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 is a trigger event and then understand that the Trigger notice has to be served 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.
  • If a challenge is made to the proposed rental terms and it is necessary to ask the Pub Code Adjudicator to appoint an Independent Assessor to propose the rent, you only have 14 days from receipt of the rent proposal to issue an appeal.

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 than Pubhelp will help and guide you through the complicated legislation and process.