Any variations to lease payments that are negotiated with landlords need to be agreed and properly documented to avoid legal disputes.
This is even more important when tenants are operating under significant stress due to the fact that they cannot currently use their premises and have little or no ongoing revenue to cover lease and service charge obligations as outlined in their current tenancy agreements.
Ron Myers interviews property experts Aaron Bennett and Tom Morrison from Temple Bright solicitors to discuss the approach that both tenants and landlords need to take today. They provide guidance around the following questions that many Consulting Room members are asking:
- What options are there for tenants who are struggling to pay their rent at this time?
- What is the difference between rent holiday / rent free / rent deferral?
- How should tenants be documenting this arrangement?
- What action might be available to landlords if tenants fail to pay their rent?
- Does the new Coronavirus legislation help?
The podcast can be downloaded HERE (mpeg4 file).
A transcript of the discussion is also available below for further referencing.
Please note that the information provided in this podcast is accurate as of 30.03.20 and that the information given is for general information purposes only. It is not intended and should not be used as a substitute for specific legal advice. Specific legal advice should be taken before acting on any of the topics covered.
For specific advice and information, please email Aaron Bennett at Aaron.Bennett@templebright.com or contact your property solicitor professional to ensure that you have the correct documentation for any lease variation agreed.
To download the Property discussion with Ron Myers and Temple Bright - Transcript, click here
