As you may have heard the Government have just announced further restrictions on what a landlord can do when faced with a tenant who has not paid its rent due to COVID-19 so the options are limited.
As a result of the actions of some landlords towards their tenants we now have a temporary ban on issuing statutory demands and winding up petitions against commercial tenants and a bar on using the commercial rent arrears recovery system, where a landlord looks to take the tenants goods, unless they are owed at least 90 days rent.
That said the Government is not blind to the issues the pandemic is also causing landlords and has encouraged those tenants who can afford to pay to do so. The overall message is collaborate and on that note we have completed a number of agreements between landlords and tenants for rent holidays or deferments where there is genuine hardship.
The restrictions are in place until the end of June but may be extended along with the moratorium on forfeiture. Like just about everything else at the moment it will be a developing picture.
For more information, contact Commercial Property Partner David Raymont by email firstname.lastname@example.org