In our previous September blog, we outlined Government restrictions and their effect on Landlords and Business Tenants. As the Government has now announced more plans for Commercial Tenancies, we bring you the following updates -
- The restrictions on forfeiture of business tenancies for non-payment of rent are to continue in England until 30 June 2021.
- Legislation will be introduced to increase the minimum net unpaid rent that must be outstanding before CRAR can be used to 457 days between 25 March and 23 June 2021, and 554 days between 24 June and 30 June 2021. It is anticipated that this will apply in England and Wales.
- The government will be launching a call for evidence on commercial rents that will set out potential steps that the government could take after 30 June 2021, ranging from a phased withdrawal of current protections to legislative options targeted at those businesses most impacted by COVID-19.
If you would like to speak to someone within our Commercial Property or Dispute Resolution teams please contact our offices on 01228 552222 or e-mail email@example.com. Please note that both telephone and video appointments can be arranged.