First pub rent case is resolved
The first rent dispute has been resolved via the new BII-led low-cost arbitration service.
The Pub Independent Rent Review Scheme (PIRRS), which went live in December, sees landlord and tenant pay a fixed fee for an independent valuer, agreed by both parties.
The first case has now been resolved, said PIRRS industry advisor Phil Dixon. But he said details of the case are not being released for privacy reasons.
"None of us know the outcome. It's between the valuer and the two parties," said Dixon.
"The two parties couldn't reconcile what was a fair rent for the property. I met with the licensee and went through the PIRRS principles and the person decided to use the scheme."
The service cost the licensee and landlord £1,500 each — the figure for pubs outside the M25 with annual rent above £25,000.
For more information, see www.pirrscheme.com.
