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.
Lucinda Matkin - Licensed Insolvency Practitioner & Chartered Accountant