Landlords blocked evictions from small companies for an additional three months
Originally written by Timothy Adler about small business
The government has banned commercial landlords from evicting small businesses from stores and other premises for an additional three months through March 2021.
This moratorium was introduced earlier this year and was supposed to end on September 30th. It was then extended to the end of December and will now be completed at the end of March next year.
Moving will be a huge relief for small businesses struggling to pay rent.
Community Secretary Robert Jenrick said: “This support is for companies struggling hardest during the pandemic, such as: B. in the hospitality industry. However, those who are able to pay their rent should do so.
“We are experiencing a profound adjustment in commercial real estate. It is important that landlords and tenants across the country use the months ahead to reach rental agreements where possible and keep viable businesses running. “
> See also: How to request a commercial rental freeze from your landlord
The government said this “final extension” would give tenants and landlords an additional three months to reach an agreement on unpaid rents.
Further guidelines to support tenant and landlord negotiations will be published shortly. Many tenants are concerned about paying outstanding rent after the moratorium expires. However, landlords claim that some tenants are large profitable companies taking advantage of the current crisis.
The British Property Federation estimates the total unpaid rent for commercial property in the UK at £ 4.5 billion from late March to December.
Andrew Goodacre, CEO of the British Independent Retailers Association (Bira), said: “Bira is pleased with the decision to extend the rental moratorium. We asked because independent retailers are facing challenges on the high street. We hope that this leads to constructive discussions between tenants and landlords to find a positive solution when the moratorium ends in March 2021. “
Commercial landlords are not allowed to use aggressive rent move-in tactics
Landlords blocked evictions from small businesses for another three months