Commercial eviction ban extended to end of September

The government has actually prolonged the ban on industrial landlords evicting their tenants from June 30 to the end of September.

A voluntary standard procedure intended to finish rental disagreements in between industrial tenants and also landlords is readied to be released ahead of following Wednesday.

Robert Jenrick, communities secretary, stated: “As our high streets revive as well as our town centres open for business, it is important that both property managers and renters have clarity as well as peace of mind as they look to keep their finances secure as well as recover.

” That is why we are extending actions to secure those that are incapable to pay lease from evictions so that organizations have the safety they need to prepare for their futures.

” And also in recognition of the strain that the virus has carried our high streets, our new code, backed by leaders across the market, will help unlock discussions on rent as well as future settlements whilst making certain best practice is shown across.”

Katie Jacobson, partner at DLA Piper, said: “For a number of tenants, the most practical solution for rental payments will be some form of adjustment, temporary or otherwise, to the rent payable under relief.

“Not many landlords wish to take back retail space at this time due to market uncertainty, so there will be appetite from both parties to find middle ground and strike a deal.

“We are seeing deals in all shapes and sizes – from changes to the phasing for payment and reduced monthly rental payments, to full rental abatements and renegotiation of the lease length. What these arrangements all have in common is to share out the risk of payment in the short term.

“Landlords and tenants will need to make sure any resolutions are fully documented and displayed in very clear terms, signed by both parties to avoid any future disputes.”