The Coronavirus Act 2020 brings into law some changes to the Landlord & Tenant legislation, and in particular the ability of a landlord to seek possession of both Commercial & Residential Premises.
These provisions will remain effective until at least 30 June 2020 for commercial Premises and 30 September 2020 for Residential Premises (“the Relevant Period”), but could be extended if the current situation does not improve.
In short, Commercial Tenants who are unable to pay rent because of Coronavirus will be protected from eviction, meaning no businesses will be forced out of their premises if they fail to pay rent over the next three months.
Please note, however, that this is simply a deferment and the rent will still have to be paid at some point.
With many tenants facing imminent rent payments, early dialogue and agreeing some form of arrangement between the Landlord and Tenant can often be the best solution.
It is important that any arrangements, are documented very carefully. It is also imperative that any arrangements between the Landlord and their Tenant:
Depending on the business, Tenants should, of course, consider available Government support for businesses such as:
If you have any questions or unsure about your situation, whether you are a landlord or a commercial tenant, please contact Michael Shapiro directly on email@example.com or 0207 822 2236.
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