24 Jan 2022
At the moment as a result of legislation brought into place following the Coronavirus Pandemic a Commercial Landlord is unable to take any steps in order to evict a Tenant for non-payment of rent until the 25th of March 2022. Many Tenants have taken advantage of the Coronavirus legislation in order not to make payment of the rent.
The Government are seeking to ring-fence rent debts built up by businesses during the Pandemic. A Code of Practice has been published which provides guidance to Landlords and Tenants in seeking to negotiate terms for the payment of the outstanding rent and in order to resolve disputes. The Government’s Code of Practice will result in a formal arbitration scheme being introduced. If the parties are unable to agree for terms of repayment of the rent arrears, the binding arbitration process will come into play.
Should you have any queries concerning this please contact Kally Singh.