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I thoroughly enjoyed the challenge that was the office relocation in record time!

The business recognises that it would not have been possible without your incredible teamwork and support.

Simon, you contributed to the huge success of the office relocation so thank you and well done!

QuEST, Weston-super-Mare
Dear Kate

Thank you very much for your help in the sale of my practice. Your expertise and patience in the matter is very much appreciated, along with your willingness to 'fight' for your client's corner.
 

Simon Cheng, London
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Thank you very much! We’ve very much enjoyed working with you on this sale, thank you for everything!
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Commercial property


Can my landlord evict me due to the Coronavirus Pandemic?

For commercial tenants who are struggling to pay their rent due to the disruption caused by the Coronavirus Pandemic, the risk of forfeiture is a real concern.

Forfeiture is the ability of the Landlord to terminate the lease and take back the premises.

Most commercial leases include forfeiture provisions allowing the landlord to do so in the following instances:

* Where the tenant is in breach of any of its obligations under the lease

* On the occurrence of certain events specified in the lease, such as the tenant's insolvency

In the case of non-payment of rent, after the rent is unpaid for the period set out in the lease (usually 14 or 21 days) the landlord’s right to forfeit arises.

Currently, a tenant may be able to remedy a breach of its obligations under the lease and seek what is known as relief from forfeiture.

However, to ease the pressure on commercial tenants, the Government has announced that those who cannot pay their rent because of the Coronavirus Pandemic will have protection from forfeiture until 30 June 2020. The Government has the option to extend this period if needed.

Although this will alleviate the immediate cashflow pressure on commercial tenants, the Government has made it clear that this is not a rent payment holiday.

Instead, the landlord’s right to forfeit is simply delayed. It is therefore important for landlords and tenants to come to an agreement as to how and when payment is to be made.

When an agreement is reached between the parties, we recommend this be documented appropriately.

Whether you are a commercial tenant concerned about upcoming rent payments or a commercial landlord worried about losing rental income, please get in touch with Rhiannon Evans in our property team who will be happy to help you.

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Advice for Tenants facing difficulties in paying rent due to the Coronavirus Pandemic

The disruption caused to many businesses due to the Coronavirus Pandemic will lead to many tenants worrying about meeting rent payments, especially with a majority of tenants facing paying three months’ rent in advance on 25 March.

If you are concerned about the forthcoming rent payments, you should consider getting in touch with your Landlord sooner rather than later to discuss potential options. These could include:
• agreeing a reduced rent
• agreeing a payment holiday with the balance to be paid in the future
• changing to monthly payments
• agreeing an early surrender or surrender of part

Landlords will be concerned about the consequent loss of income and the effect that will have on their own businesses but they will be reluctant to lose a tenant as that will leave them responsible for the Property.

Even though landlords cannot forfeit commercial leases before 30 June 2020, some landlords are taking a hard line and looking to pursue other remedies which are not prohibited, for example, serving a statutory demand. Enforcement of such remedies may be difficult due to current social distancing and travel restrictions but these actions can cause difficulties for tenants, especially when they look to resume normal activities after the llockdown ends.

Some tenants may have break clauses which they may want to exercise. This needs to be considered carefully, as with exercise during more normal times. Tenants need to take care to ensure that they comply with any conditions attached to a break clause including giving sufficient notice, rent payment and vacant possession. Failure to comply with any conditions will mean that the break has not been successfully exercised.

The Government have set out their intention to provide assistance for businesses and further details HERE This is liable to change and it remains to be seen how quickly this assistance will be made available.

You should also check your business interruption insurance to ensure you are familiar with the terms and conditions and for what you may be able to claim.

For friendly, impartial and expert advice on any of these issues, please get in touch with Manjinder Kang in our property team, who will be happy to help you: 0117 926 4121 / mkk@meadeking.co.uk

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Advice for Landlords with Tenants in financial difficulties due to the Coronavirus Pandemic

The disruption caused to many businesses due to the Coronavirus Pandemic will lead to many tenants approaching their landlords with concerns about paying their next rent instalment.

Landlords will be concerned about the consequent loss of income and the effect that will have on their own businesses especially in terms of meeting mortgage payments and complying with other lending covenants. Most landlords would be reluctant to lose a tenant as that will leave them responsible for the Property.

Whilst landlords are not under any obligation to agree to any requests from tenants they may consider:-
• agreeing a reduced rent, rent holiday, monthly rent payments or other rent deferment arrangement with the tenant
• action for payment of the arrears. Although forfeiture is now prohibited by the Government up until 30 June the landlord can still enforce payment of the arrears against the tenant and any third parties who may be liable such as former tenants and guarantors
• utilising any rent deposit monies that they may be holding.

However landlords will always need to be mindful to avoid potential reputational damage by taking a hard line in the current environment.

The Government have set out their intention to provide assistance for businesses HERE. This is liable to change and it is recommended that this is reviewed regularly to remain up to date.

You should also check your business interruption insurance to ensure you are familiar with the terms and conditions and for what you may be able to claim.

For friendly, impartial and expert advice on any of these issues, please get in touch with Simon East in our property team, who will be happy to help you: 0117 926 4121 / sre@meadeking.co.uk

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Whatever the size of your property portfolio, our expert commercial property lawyers can advise on all matters from property development and leases, to secured lending, options and licensed premises.

Recognised by Legal 500 as one of the leading property teams in the South West, we work with a wide range of clients including major high street and international retailers, charities, property developers and local businesses. It’s vital to get it right when it comes to property and we want you to be clear about your options and be sure that all legal aspects are correctly taken care of.

From experience we know that investing a little time and money at the beginning pays off in the long term. We also know that being responsive is important to you and we are committed to working swiftly and effectively.

Call now on 0117 926 4121 to speak to a member of our commercial property team or make a free enquiry online.

 

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