Dentons has always taken a flexible approach to holding commercial property within its self-invested pensions, both SIPP and SSAS, allowing clients to choose a lender, solicitor and surveyor.

We also offer the freedom for clients to manage their own commercial property. This can have significant cost benefits for clients but it is essential that they undertake the necessary property management functions which include the following:

  • Adequately insuring the property
  • Invoicing rents and securing payment in accordance with the lease
  • Organising rent reviews
  • Completing VAT returns, although Dentons prefers to complete these returns as we must sign these off in our capacity as co-trustee
  • Meeting all legal duties such as environmental requirements and compliance with discrimination laws
  • Ensuring the tenant observes the covenants in the lease (e.g. payment of rates, taxes and insurance premiums)
  • Maintaining proper records and books of accounts, which should be available for inspection.

These are just some of the duties that need to be carried out if you self-manage a commercial property: for a more detailed overview please see our Self managed property flyer. 

However we recognise that not everyone has the time to self manage their pension scheme’s commercial property and we can arrange full property management services, if required.

Please note: Dentons has a duty to ensure the relevant property management functions are carried out and we will be obliged to take appropriate action to redress any short comings.