The Business Exchange Swindon & Wiltshire Edition 43: June/July 2019 | Page 36

COMMERCIAL PROPERTY ADVERTORIAL Minimising your risks as a commercial property landlord by Ian Sharpe, Senior Account Director, for Jelf in Swindon As a landlord of a commercial property it’s your responsibility to meet certain obligations for your tenants. If you’re not familiar with these, you could expose yourself and your properties to unnecessary risk. Your commercial landlord responsibilities Like a residential landlord, you need to ensure your properties are safe and well maintained. But depending on the type of property and lease, you may also be responsible for: • • • • • • • Fire safety Maintenance and repairs Fixtures and fitting Waste management Asbestos monitoring and maintenance Gas and electricity Refrigeration, air conditioning and heating systems If you are, you could be held accountable for lax health and safety and poor building maintenance, however you could transfer some of your landlord liabilities to your tenants in the terms and conditions of their lease. But this isn’t always possible so you might still need to have a plan in place to monitor your properties. Minimising your risk as a landlord Addressing these challenges with these simple steps can reduce risks and help make sure your properties are legal. Risk assessment Conduct an annual and thorough risk assessment for every property. Even though you might not be directly responsible for fire safety, always include it in your assessments. It should verify that all fire control measures are in good, working condition and who’s responsible for them. Hire professional contractors – make sure contractors provide their own risk assessment and method statement as well as evidence of their insurance before they begin any work. Introduce PAT testing legal requirement for landlords but testing anything you provide can help ensure the safety of your tenants. Correct storage Require that any chemicals your tenants may use for their business are stored in locked, metal cupboards. Check water systems Hire a specialist contractor annually to conduct a legionella bacteria risk assessment for all of the property’s hot and cold water systems. Visit jelf.com to find out how we can help you manage your liabilities. This is a marketing communication. Jelf Insurance Brokers Ltd is authorised and regulated by the Financial Conduct Authority (FCA). Not all products and services offered are regulated by the FCA. Registered in England and Wales number 0837227. Registered Office: Hillside Court, Bowling Hill, Chipping Sodbury, BS37 6JX. FP19.13 Make use of FRI or IRI leases Full repair and insurance (FRI) leases can limit your liability in the event of an incident. FRI leases make tenants responsible for the costs of all repairs and insurance policies. In the case of a multi-occupancy building, an Internal repair and Insurance (IRI) lease would be more appropriate. Don’t leave yourself or your properties exposed to unnecessary risks by ignoring your responsibilities. Portable appliance testing (PAT) isn’t a For more info: www.jelf.com [email protected] 01793 714431 We provide the complete solution Hiring crates for your move Storing your items Moving your business Space planning & design Office furniture www.elmworkspace.com 01249 819 419 www.allboxed.co.uk 01249 471777 www.britanniaquickmove.co.uk 01249 813430 The Space Centre, Porte Marsh Road, Calne, Wiltshire, SN11 9BW 36 THE BUSINESS EXCHANGE 2019