Rent recovery and protection – what commercial landlords can do
In the COVID-19 world significant restraints have been placed on landlords' ability to recover outstanding rents. Pinsent Masons have written an article looking at what options landlords retain and what factors landlords should take account of as we approach the June quarter day.
The Government is increasing the minimum amount of rent that must be due before CRAR may be used, to provide businesses with additional protection and flexibility in managing their finances.
Coronavirus Act 2020 amendment to Regulation 52 of the Taking of Control Goods (minimum amount of net unpaid rent for CRAR to become exercisable):
Where the notice of enforcement is given after the coming into force of the 2020 Regulations and during the relevant period, the minimum amount of net unpaid rent for the purposes of section 77(3) of the Tribunals, Courts and Enforcement Act 2007 is an amount equal to 90 days’ rent.
Read more about landlords options on the Pinsent Masons website here
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.