In these unprecedented and uncertain times, many businesses are wondering how they will pay the rent due under their leases when they are not able to operate their business as they usually would.
The Government has therefore announced that commercial tenants who cannot pay their rent due to Covid-19 will be protected from eviction.
Measures will be introduced in the Coronavirus Bill, which is currently going through Parliament, to prevent tenants being evicted from their premises if they miss a payment in the next 3 months. The measures will come into force when the Coronavirus Bill receives Royal Assent and will last until 30th June 2020, with an option to extend these measures if necessary.
This protection is offered in addition to the unprecedented support package for businesses announced by the Chancellor last week.
Despite these protection measures, landlords and tenants should be encouraged to communicate during these difficult times to see if voluntary arrangements can be made with regard to rent payments due in the next few months.
To help you manage the impact of coronavirus across your business we have established dedicated teams in all key practice areas. Contact the Fisher Jones Greenwood quick response team on 01206 700113 (initial telephone advice will be free of charge) or email [email protected].
See the update to this blog here.