Whilst residential evictions have resumed as of the 1st June 2021, many commercial landlords up and down the country are still left frustrated at the lack of movement in their sector.
The latest extension to the evictions moratorium for commercial properties is due to expire on the 30th June, but with the Government reviewing the industry’s arrangements as a whole in the near future (apparently), who knows if this could yet be extended further.
It’s been a challenging year and a half for commercial renters, of course it has, but the same is true for landlords who haven’t been receiving any rent, and who have been unable to enforce any kind of action on non payers.
As we’ve said all along, commercial landlords will be incredibly keen to extend their patience as long as is financially viable, because finding new tenants now would be a real struggle, but after 18 or so long months, patience has to be wearing thinner than ever.
This is especially true in instances where landlords suspect their tenants are refusing to pay, even if they have the means to. Taking advantage of the situation, if you like.
We know that many businesses have received loans or even grants, courtesy of Mr. Rishi Sunak, but have they used any of those monies to pay their rent? Or at least a contribution to that rent?
Most businesses (at least the ones who have survived) are now open again and trading. Are they not able to make some kind of payment towards their rent either?
It’s probably a minority, but there will undoubtedly be businesses taking advantage of the moratorium.
Commercial Rent Arrears Recovery (CRAR) and Winding Up Petitions are also currently suspended under a moratorium until the 30th June, and so commercial landlords really don’t have a lot they can do other than sit on their hands or twiddle their thumbs.
It’s a worrying and confusing time for many, but #TeamCES want to let our clients know that as soon as things start moving, as soon as the moratorium is lifted, we’ll be ready and waiting to get to work and to help them get back what they are rightfully owed.
Hang on in there.