Coronavirus recovery: Landlords and tenants working together in relation to rent payments
Over the last few months, we have seen unprecedented steps from the Government to help protect commercial tenants from eviction where they are unable to pay rent because of coronavirus. This included the Coronavirus Act 2020, which imposed a temporary ban on the right of a landlord to forfeit a commercial lease for non-payment of rent.
Whilst the Government measures have reassured commercial tenants with short term cashflow issues, many of our landlord and tenant clients have not needed to rely on these measures, as they have been working together to agree short term rent reductions, deferrals or holidays, sometimes in exchange for longer lease terms.
As we move out of lockdown, many landlords and tenants are seeking to build on the positive relationships established during this unprecedented period, in order to ensure a swift recovery for commercial tenants. If you would like assistance documenting any further changes to agreed lease terms, please do not hesitate to contact us. Although landlords and tenants have been working together, it is still important to formally document these agreements, to ensure all parties are clear on the agreed terms.
If you have any queries about your commercial lease in light of the easing of lockdown, or if you would like to discuss any other commercial lease issues, please contact our Real Estate team, or email your query to firstname.lastname@example.org; call us on 01276 686222 or visit our website https://www.herrington-carmichael.com/contact/
This reflects the law at the date of publication and is written as a general guide. It does not contain definitive legal advice, which should be sought as appropriate in relation to a particular matter.
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We are solicitors in Camberley, Wokingham and London. In 2019, Herrington Carmichael won ‘Property Law Firm of the Year’ at the Thames Valley Business Magazines Property Awards, ‘Best Medium Sized Business’ at the Surrey Heath Business Awards and we were named IR Global’s ‘Member of the Year’. We are ranked as a Leading Firm 2020 by Legal 500 and Alistair McArthur is ranked in Chambers 2020.