EXTRA PROTECTION FOR BUSINESSES WITH BAN ON EVICTIONS FOR COMMERCIAL TENANTS WHO MISS RENT PAYMENTS
The Government have announced that Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction.
Commercial tenants who cannot pay their rent because of coronavirus will be protected from eviction.
As commercial tenants will still be liable for the rent after this period, the government is also actively monitoring the impact on commercial landlords’ cash flow and continues to be in dialogue with them.
Tenants should be mindful, whilst protection is offered in the short term, the rental payments will still be due after the period of protection, and should make what payments they can afford in the meantime.
The change will come into force when the Coronavirus Bill receives Royal Assent. It will last until 30 June, with an option for the government to extend if needed.
If you have commercial premises and looking to manage your cashflow, please do not hesitate to contact us on Tel: 07972928153 or email: email@example.com should you need assistance with forecasting, and knowing more about the options available to you.
THREE MEASURES TO HELP PROTECT RENTERS AND HOME OWNERS
Government have announced mortgage lenders are to help those struggling to pay as a result of the coronavirus outbreak by providing 3 month payment holidays. However, if you were already in arrears prior to the outbreak this may affect you ability to obtain such support.
Protection is also offered to renters, as landlords will be able to seek support from mortgage lenders. Again if you were already in arrears prior to the outbreak this may affect you ability to obtain such support
If you are struggling, in the first instance you should contact your mortgage provider or landlord