Image credit: from Third Sector’s website.
Many charities rent their space of work rather than purchasing a building or an office space, but according to the Ethical Property Foundation, 45% of charities stated that they believed this rented space is the greatest risk to their charity.
An article from Third Sector lists a few ways that charities can minimise the risk of renting property for their charity.
They suggest:
- staying informed about rent reviews and lease terms
- considering extra types of insurance when sub–letting rooms
- making sure that any insurance needed by the charity is sourced
Also the Third Sector say charities renting property should be aware of landlords attempting to avoid the business tax and they should “follow a reasonable decision–making process before entering into these agreements”. They urge charities to take advice from the Charity Commission’s range resources on their site.
See Third Sector’s full article for more information and guidance when renting a property as a charity.