Commercial Landlords could face 2 years of unpaid rent as eviction ban is extended
June 2021A ban on Landlords evicting firms for unpaid commercial rent has now been extended by the Government to March 2022. The ban was originally due to be lifted on 30thJune but Steve Barclay, chief secretary to the Treasury has announced that it is to be extended to 25 March 2022.
So what are the implications for Landlords and tenants? For tenants the pressure is off for another nine months, but some Landlords could be facing 2 years without any rent payments. While some business sectors are in recovery, others such as retail and hospitality have been hardest hit by the pandemic with groups claiming last week that the two sectors had built up £5bn in rent arrears. Some Landlords argue that the moratorium has allowed tenants to avoid paying rent while still making profits.
If you are a property owner affected by this latest extension of the eviction ban, please talk to our Property Asset Management team.
Adam Jones, Director of Property Asset Management says ‘Throughout this crisis we have been able to facilitate a frequent and transparent communication stream between landlords and tenants and resolve a number of difficulties. In situations like this it is often better to use a third party to negotiate on your behalf than try and do this yourself’
To contact the Property Asset Management team call 01905 676169 or email adamjones@gjsdillon.co.uk
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