Tenants of both private housing and commercial premises will not be evicted from their premises for at least 3 months if they are struggling to pay their rent. These measures, included in the emergency Coronavirus Bill currently going through Parliament, will mean no individual or business will be forced out of their premises if they miss a payment in the next 3 months.
Many commercial landlords were already working closely with tenants and offering rent deferrals or holidays. However, the new legislative backdrop will provide businesses struggling with cashflows with reassurance that they will not be evicted if they cannot pay their rent because of coronavirus over the next 3 months.
Whilst the new measures are welcomed and supportive for tenants, landlords too are suffering from the impacts of coronavirus on their own businesses due to tenants being unable to pay rent. Landlords still need to meet their obligations to their lenders and to the savers and pensioners who rely on the income they generate. We are told that the government is monitoring this situation closely.
In the meantime, the new protections announced by the government will not preclude landlords and tenants from creating unique arrangements to deal with leasing arrangements in the coming weeks and months, especially as tenants will still be liable for the rent after the 3 month period expires. We can advise on how to document any concessions to ensure they are only temporary.
Having the right legal advice at the right time is crucial. Our expert team offers clear, concise and problem-solving legal advice aimed at navigating landlord and tenant issues.
Please do not hesitate to get in touch with Anne Skeggs, head of our Property team or your normal Mills Selig contact to discuss.
21 Arthur Street
Belfast, BT1 4GA
T: +44 (0) 28 9024 3878