The government is working on proposals to ban “upwards only” clauses in rent reviews of leases. In the current difficult trading conditions for most retail and other commercial traders, where margins are becoming tighter and every other category of expense is under pressure to be reduced, why should rents not also fall? If you are locked into an “upwards only” lease then you may feel aggrieved and protest the unfairness of it when the landlord’s agent comes around and imposes an increase in rent on you, even as the footfall and the turnover are falling away. You might as well argue with a car clamper…

cheap viagra buyWe support the proposal to illegalise “upwards only” rent review clauses. We see it as a matter of good Social Policy – for the good of society in general by the elimination of practices that would otherwise tend to distort and to frustrate the working of equitable market forces. Such matters of Social Policy also find expression in, for instance, liquidation of companies, where Insolvency Set-Off – the mutual cancellation of debts and credits between two companies, where one is in liquidation – is mandatory. It is not optional and is not subject to the necessity to establish a connection between claim and cross-claim. Parties cannot contract out of it. Set-Off is seen to be clearly for the general good that the liquidation process is not frustrated by lengthy arguments over mutuality and the like - that is good social Policy.

can you buy viagra in dubaiBanning “upwards only” clauses will help to bring down costs in this economy and aid competitiveness and ultimately aid recovery. Two reasons advanced against such a ban appear to be as follows:

  1. Nobody forced the tenant to sign up to “upwards only” leases, so they should just learn to live with them.
  2. The values of the assets that are ear-marked for “NAMA” take-over would be depressed.

We are not impressed by the first argument; such leases may have been the only ones available at the time. The latter reason does not appear to have any merit other than suggesting that the government bail-out through NAMA would have to be bigger, if asset values fell as a result of the ban – it is not an argument that addresses the core questions of the moral and economic standards that are implicit in the continuation of such “upwards only” clausescheapest generic viagra cialis.

cheap viagra indiaWe say that if this practice of “upwards only” rent reviews is seen as one of the props of NAMA, then we might conclude that NAMA itself is flawed as a matter of Social Policy.

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