The chairman of a real estate agency has set up an independent membership organisation for commercial tenants to ensure “fairer deals” and more protection from landlords.
Peter Bell, chairman of London-based agency Expedite Group, has launched the Commercial Tenants Association to provide advice and support to independent traders and large corporate organisations.
A survey by the CTA, which polled more than 1,000 occupiers, found that nearly three-quarters (73%) of office occupiers were dissatisfied with aspects of their tenancies.
An 88% majority said they lacked the expertise to deal with general tenancy issues, and struggled to find support and advice.
The findings also showed that just over three-quarters (76%) of industrial tenants did “not feel well represented” in the commercial property market.
Meanwhile, 82% of retail tenants said they did not “feel treated like a valued customer”.
Bell said: “It’s never ceased to amaze me how poorly tenants are treated by landlords, property managers and agents – it’s as if they’re worthless occupiers or unwelcome guests.
“Where else is a fare-paying passenger not treated like a valued customer – and which other market is geared so heavily towards the seller and not the buyer?”
The organisation’s advisers include Peter Vicary-Smith, former chief executive of Which?, and Emma Kane, chief executive of SEC Newgate. Vicary-Smith will be its non-executive chairman.
Bell previously set up a tenant representative organisation, called Expedite Advise, in 2014. This specialised in office occupancy.
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