- Coronavirus and commercial rent payments: advice for landlords and tenants
Coronavirus and commercial rent payments: advice for landlords and tenants
Coronavirus and commercial rent payments: advice for landlords and tenants25th March 2020 - Published by
The government has made further announcements in response to the ongoing fight against coronavirus, such as ordering a moratorium on commercial landlord sanctions, including forfeiture, for at least three months. This means tenants who miss rent payments because of coronavirus are protected from immediate landlord action. This comes at a key time for commercial tenants, whose next quarter rent fell due on 25 March 2020.
The provision will only delay the right of forfeiture and will not affect a landlord’s right to claim forfeiture or recover rent after the three-month period ends, unless this period is extended by the government should it consider it appropriate the do so.
The government is equally aware of the additional financial pressures missed rent payments will have on landlords and intends to keep the effects of this moratorium under review. This is an opportunity for landlords and tenants to have a discussion regarding the lease and its provisions in the immediate future and going forward. For example, whilst rent-free periods are the typical focus of discussion, there may be alternative solutions that would benefit both the landlord and tenant, and we are successfully advising many clients to this end.
We are providing tenants with a cost-effective COVID-19 Tenant Support Package to help them negotiate with their landlord(s). This includes:
- A review of the terms of their lease and supporting documents
- A follow-up advice clinic with an experienced property lawyer to discuss both the legal and commercial options available
- Following this, production of a tailored legal letter to go to your landlord
For the total price of £500+VAT.
If you would like assistance in this matter, please contact David Moroney on 0161 838 7866 or email email@example.com.