Commercial Tenant Rental Arrears – The end is in sight
Communities Secretary Robert Jenrick announced the final extension for the moratoriums on forfeiture of commercial leases, and Commercial Rental Arrear Claims, with the moratoriums set to end on 31 March 2021.
These protections will have been in place for 1 year, with some tenants having incurred significant rental arrears over this period.
The final extension gives landlords and tenants 3-months to reach an agreement over payment of rental arrears, and enables business time to recover from the economic impact of the Covid-19 pandemic. Further guidance is expected to follow which will help facilitate discussions between landlords and tenants.
If you are a commercial landlord looking to recover rental arrears or a tenant who wants to negotiate with your landlord, please don’t hesitate to get in touch with our dispute resolution team for a confidential discussion.
Michael Ridgwell
Partner / Dispute Resolution
Michael has substantial experience in dealing with a broad range of disputes, with a specific focus on Commercial Litigation. He first qualified in South Africa and has since relocated his practice to the United Kingdom.