The VMA Process

VMA is pleased to provide an initiative which will lessen the financial impact of maintaining empty retail / office space in a legal, ethical and approved manner. • Our objective is to help reduce landlord costs when business rate liability impacts, whilst providing art workspace for various art charities and their members. • VMA host specialist groups of art related charities / organisations by providing additional space for one of four key uses. These may include rehearsals, gallery displays, workshops and storage space dependent upon the condition of individual properties and any landlord restrictions. • The approved charity will lease / licence most empty, accessible property. Utilising the 30 day break clause, the charity will exit the property with little notice (and even less fuss). • Charities utilise their status to claim mandatory business rate relief of 80%. • The VMA initiative apportions the savings between the charity, the landlord and VMA management fees. This provides a mutually beneficial financial incentive for all parties, providing there is a rate liability. • The selected charity and/or VMA will satisfy the local rates assessor regarding occupancy requirements and in accordance with any landlord restrictions. • The VMA process is a proactive, approved system which is designed to work positively and harmoniously with the various parties, rather than attempting to exploit loopholes in the current legislation. Our systems are totally transparent. • Opportunities to market properties are enhanced, rather than detracted. • Property Insurance premiums are (typically) reduced when a tenant is occupying the premises and increased when vacant. Similarly security costs are often negated. • Agreements are simple yet effective and there are no legal costs involved. • VMA can establish and populate approved sites within 10 working days, and can vacate when required as quickly, with no risks to either party. • The Arts Charity network supports the VMA initiative, as do the UK Arts Council, the Charity Commission and the Government Department of Civil Society.