Covid-19 is a global pandemic that has had a huge impact on the commercial property sector. The restrictions introduced by the government to control the spread of Covid-19 were unprecedented and the disruption caused to businesses has been huge. Although these restrictions are starting to ease, it is likely that the effects of the restrictions will be felt by businesses for some time.
The government has now produced a Code of Practice for commercial property relationships during the Covid-19 pandemic which can be found at:
The Code is voluntary and will apply until 24 June 2021.
The government’s objective is to provide support to businesses during this difficult time and the Code is a part of this. The Code has been put together to assist businesses in their discussions with their landlords to negotiate affordable rent. The guidance that has been given to date is clear. Those businesses who can afford to pay their rent should whilst those who cannot should enter into negotiations with their landlord.
Landlords and tenants should consider the Code when entering into discussions about rent to assist them with those discussions.
The content of this article is correct as at the date of posting and is for information purposes only. Whilst we try and ensure it is accurate we do not warrant or guarantee that this is the case, nor do we accept any responsibility in the event that it is relied on. The information is not intended to be a substitute for legal advice which you are recommended to obtain.Back to News