In March this year, the government placed a moratorium on forfeiture
proceedings for commercial leases, where the landlord was forfeiting the
lease for non-payment of rent. The moratorium has now been extended until
31 March 2021. The government’s announcement states this is a “final
extension”.
The restriction on commercial landlords using Commercial Rent Arrears
Recovery (CRAR) to recover unpaid rent has also been extended to 31 March
2021 to coincide with the moratorium’s expiry date. Please see the previous
newsletter which can be found
here
which details the temporary changes to the rent arrears requirements under
the CRAR regime. The CRAR documents remain suitable for use, but landlords
should note the rent arrears requirements.
A temporary measure introduced by the Corporate Insolvency and Governance
Act, which restricts the landlord’s ability to serve statutory demands and
winding-up petitions as a means of recovering rent arrears, has also been
extended to the 31 March 2021.
Alongside these extensions the government has also announced a review of
commercial landlord and tenant legislation in early 2021 to ensure that the
legislative framework reflects the current economic conditions.
The contents of this Newsletter are for reference purposes only and do not constitute
legal advice. Independent legal advice should be sought in relation to any specific
legal matter.