Commercial rents code of practice

On 9 November the UK Government announced the introduction of a code of practice in an attempt to resolve any outstanding commercial rent debts which ensued as a result of Covid-19.
1 December 2021

The current protections for commercial tenants, introduced last year in response to the pandemic protecting commercial tenants against eviction, will remain in place until 25 March 2022. This will allow both landlord and tenant to negotiate the burden of debts as a result of the pandemic.

 

These negotiations will be underpinned by the new code of practice, providing landlords and tenants with a process for settling outstanding debts before the new legally binding arbitration process comes into force to help settle any disputes that are outstanding. This will only apply to commercial rent debts related to closure of certain businesses during the pandemic and will not cover any debts accrued outside of these times.

 

Secretary of State for Business, Energy and Industrial Strategy, Kwasi Kwarteng, said: "Today's measures provide commercial landlords and tenants with the clarity and certainty they need to plan ahead and recover from the pandemic. We encourage landlords and tenants to keep working together to reach their own agreements ahead of the new laws coming into place, and we expect tenants capable of paying rent to do so."

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