Commercial tenants protected from evictions
The government has confirmed that there will be an eviction freeze for commercial tenants who miss rent payments as a result of the Coronavirus crisis. The protection for businesses on commercial leases is one of the measures in the Coronavirus Act 2020.
The measures will stay in place until 30 June 2020. There is an option for the government to extend this deadline if necessary. The protection applies to commercial leases for commercial tenants in England, Wales and Northern Ireland. There are similar measures in place in Scotland extending the notice period from 14 days to 14 weeks.
Many landlords and tenants across the country are already reaching voluntary arrangements regarding rental payments. However, these measures will provide some further assurance to businesses struggling with cash flow due to Coronavirus disruption.
It is important to note that commercial tenants will still be liable for the rent due.
For more information on Commercial tenants, Book a Free Consultation