Government Extends Protection for Non-paying Tenants
September 21, 2020
Category: News
On 17 September 2020, the Ministry of Justice issued a statement to the enforcement industry regarding secondary legislation set to come into force on 29 September 2020.
The legislation provides a further extension to protect commercial tenants from the use of the CRAR process, and also extends the moratorium on forfeiture of commercial leases for non-payment of rent until 31 December 2020.
What else does this mean for landlords?
- From 29 September 2020 until 24 December 2020 (inclusive), the minimum amount of rent that must be due before you can instruct us under CRAR is an amount equivalent to 276 days’ rent
- After 25 December 2020, the minimum amount will increase to an equivalent of 366 days’ rent
At Andrew Wilson & Co, we will continue to support our clients as best we can during this difficult time. If you’re not sure how this affects you, or would like to discuss any aspect of monies owed to you, please contact the team.
Read the latest legislation: The Taking Control of Goods (Amendment) (Coronavirus) Regulations 2020.
