The 25th March marks Lady Day – Feast of the Annunciation and more relevantly the first quarter day of the year. Traditionally, on quarter days tenants paid their rents to landlords and this is perhaps a timely reminder that with most agricultural tenancy agreements, notices of end of tenancy or indeed rent reviews are time critical.
If you are considering altering agreements in any way, do not miss the appropriate dates. We strongly advise that professional advice is taken in these situations in order for both parties to be fully satisfied with the outcome – and to avoid complications with the agreement further down the line.
It is also worth noting that a short term Farm Business Tenancy, which is for less than two years, can terminate without notice at the end of its natural term; again great care is required as you approach these dates whether you are a landlord or a tenant. As always, professional advice is worth its weight to ensure that your businesses can continue in the way that you want them to.