Update: The Commercial Rent (Coronavirus) Bill became law on Friday 25 March 2022
What this means for tenants in arrears
The new law has been introduced by the Government to resolve disputes between commercial landlords and tenants relating to the payment of Covid-19 rent arrears.
It introduces a brand-new arbitration scheme in relation to “Protected Rent Debt” which relate to debts falling due during a specific period when a business was subject to a government mandated closure order.
In relation to all other debts falling due, all the previously restricted landlord remedies are now available again, including: (1) forfeiture by peaceable re-entry or court proceedings; (2) the Commercial Rent Arrears Recovery process (CRAR); and (3) statutory demands and winding up proceedings against a company (note this will return on 31 March 2022).
To read more about the key changes that are now in force and how it might impact you, you can view our previous article on the topic here.
How can Ignition Law help commercial tenants?
We are happy to help and support you, which we can do in a number of ways. In the context of the new law explained above we can:
- Advise you regarding your landlord’s remedial options against you in respect of any arrears and how you can mitigate any risks.
- In the event of any remedial action being threatened or taken by your landlord, help you navigate through the process and review the validity of your landlord’s action.
- Help with settlement negotiations.
- Draft a settlement or surrender agreement.
For further information on law regarding tenants in arrears or any other property queries, please contact Lauren O’Sullivan or Michael Whitaker