The Pubs Code was introduced in 2016 underpinned by two key principles: Fair and Lawful Dealing and making pub operating business tenants no worse off than if they were free-of-tie. This would be achieved by means of a simple Market Rent Only (MRO) option that would be available to them.
Since the implementation of the Pubs Code, we believe that only a handful of tenants could have achieved a Market Rent Only (MRO) option, through an agreement with their pub operating company and thousands have lost out.
The pub companies continue to complicate the issue, confuse landlords, take excessive time in negotiations, deliberately mislead, hold back information, use tactics aimed at avoiding the Code and generally game the Code to their advantage.
This has to change. The Code isn’t working.