The Government has extended the moratorium on the forfeiture of commercial lease until 25 March 2022; the same applies to the use of the CRAR (commercial rent arrears recovery).
The reason for the extension is to encourage businesses to continue to operate – essentially, so they can trade out of trouble and pay their rent whilst also protecting the jobs of their employees. The extension encourages landlords and tenants to continue their discussions about arrears, to plan repayment and to try to reach an accommodation with one another.
What if I cannot reach with my landlord/tenant?
There are not many options save for seeking judgment for the rent arrears or commencing the insolvency process but care must be taken whatever route is taken.
There are many issues to consider and we can advise on the different strategies available to a struggling landlord or tenant. If you would like further information or support call Matthew Blood on 02476 641642