The default position for any landlord and tenant will be the lease contract you have in place which, in most cases, requires a tenant to pay rent in advance on a quarterly or monthly basis.
Any departure from this obligation or request for a rent-free period is a new negotiation for which we can assist.
Whether you grant a rent holiday is dependent on your circumstances and requirement.
Such a request is a positive opportunity to potentially agree a rent holiday in return for an increased rent in the future or a lease extension.
It is important to ask you tenant for the reasoning behind the request and for justification where possible.
Please note the Coronavirus Act only provides protection from forfeiture for a short period of time (to the end of June 2020) for companies who have a lease which would be covered by Part II of the Landlord and Tenant Act 1954 (as amended) – i.e. a commercial tenancy.
To discuss the particulars of your situation with our lease advisory experts, get in touch and we will be happy to help.
