000			01617cam a2200277 4500
001			ABS66614
008			030430n2003 000 0 eng u
035			_a(Sirsi) u122136
100			_aShepherd, N.
245		2	_aA do-it-yourself solution
260			_c2003
490			_aEstates Gazette _v(0310) 8 March 2003, 159(1)
520			_aDiscusses the case "Allied Dunbar Assurance plc v Homebase Ltd ([2002] EWCA Civ 666, Abs65740) in which the CA ruling has made it harder for tenants to sublet commercial premises below the full market rental value. Considers the implications of the decision, as some freeholders will ignore "Homebase" and permit a side agreement rather than have the risk of an empty property. To avoid the need for a side agreement, the solution is suggested that a subtenant returns the reverse premium to be held as a rent deposit. The tenant's cashflow would improve with each quarter as the subtenant paid rent at the full rate. At the end of the term, the reverse premium would be recouped by the tenant and the rent deposit would be returned. Concludes that the suggested solution will allow tenants to dispose of premises that could not otherwise be sublet.
590			_aABS
650			_aHOMEBASE LTD AND ANOTHER V ALLIED DUNBAR ASSURANCE PLC
650			_aSUBLETTING
650			_aSUBLEASES
650			_aPROPERTY-COMMERCIAL PROPERTY
650			_aSIDE AGREEMENTS
650			_aCOMMERCIAL TENANTS
650			_aLANDLORD AND TENANT ACT 1954
650			_aVALUE ADDED TAX
650			_aRENTAL INCOME
690			_aLANDLORD AND TENANT-BUSINESS TENANCIES
942			_n0
999			_c72582 _d72582