New landlord accreditation scheme launched - commercial mortgages

24 July 2007

Landlords with commercial mortgages are the focus of a new scheme launched by the British Property Foundation (BPF) aimed at improving standards across the sector.

The Commercial Landlords Accreditation Scheme (CLAS) intends to provide a more tenant-friendly leasing system and will look to point firms in the direction of the highest-quality landlords.

The scheme will look to landlords who provide high levels of customer service as well as leases that are both flexible and manageable, with a standards board ensuring objectivity towards both landlords and tenants.

"This new landlord accreditation scheme will give businesses a better deal on commercial property leases […] This is a welcome and important step forward by the industry and the challenge now is to make sure that all landlords sign up. We shall be keeping a close watch on the market to see that it makes a real difference," commented housing minister Yvette Cooper.

"Any commercial landlord is very welcome to join the scheme and we hope it will prove particularly useful to smaller landlords who want to follow good practice and gain some credit for doing so, even if they are not a BPF member," added BPF chief executive Liz Peace.

Total investment in UK commercial property exceeded £27 billion in the first six months of 2007, it was advised earlier this month.