June Quarter Day Commercial Rent Arrears: UPDATE
Can you appoint Debt Squared this June Quarter for CRAR?
Amendments to Commercial Rent Arrears Recovery (CRAR) that came into force 24 June until 30 September 2020.
Here is what you need to know:
Rent and service charges are often paid on the usual Quarter Days in advance. For example the rent due on 24th June is for the period from 24th June to 28th September inclusive. In some old leases payment can be in arrears, and in such cases the rent due on 24th June is for the period from 26th March to 24th June inclusive.
If you have a tenant who was in arrears prior to the March Quarter, this should in theory get us to 189 days’ worth of rent unpaid. In this instance we can issue a Notice of Enforcement TODAY, if not then we need to defer issuing CRAR until we crystallise 189 days of rent unpaid.
Temporary Rule Changes
The Government have extended the moratorium on commercial tenant rent evictions from 30 June until 30 September 2020, meaning we cannot forfeit a lease for non-payment of rent during this period.
Debt Squared: An all-encompassing service
Debt Squared is now part of The Clearway Group. We are the fastest growing void security contractor in the UK and pride ourselves on our customer retention levels. We carry out extensive an ongoing customer satisfaction research which has consistently revealed a 95%+ satisfaction level.
As a Group we provide empty property security services throughout the UK for a wide ranging customer base. In the past two years we have completed over 64,000 security transactions, made 52,000 environmental visits and carried out 17,000 property inspections.
We have over 70 operational teams and we operate a fleet of over 60 vehicles. We have major service centres hubs based in London (3), North West, East Midlands, North Yorkshire/Teesside, South Yorkshire, West Midlands and Central Scotland. In addition to this we operate a network of satellite depots that hold extensive levels stock and equipment.
We are here and ready to assist you for any portfolio requirement, 7 days a week.
We are here to help
Our team of experienced and qualified advisors are still in place to provide advice, support and provide recovery action where require.
At this very sensitive and worrying time for all we are keen to ensure that you have all the facts and support you need to make the very best decision for your business and your clients.