We are specialists in helping commercial landlords, portfolio owners and asset managers tackle problems with commercial property. Our work and advice includes in relation to eviction and forfeiture of commercial premises. Situations we encounter can be as straightforward as unpaid rent and the landlord wanting to terminate the lease (and regain possession), to advising where there is a dispute over service charges or whether expenses are reserved as rent within the lease.
We use our experience to help landlords take stock, not least to review their overall commercial position. For example depending on the local market and assets position of the commercial tenant the better outcome for the landlord on occasion can be to not forfeit a lease but rather to issue claims regularly against the tenant as the rent becomes due, going on to secure the Judgments, if unpaid, against assets. In this way, subject to the tenant or any guarantor having sufficient assets, the landlord secures payment of rent, avoids any risk of business rates liability, and increases pressure on the tenant to pay rent when demanded.
Equally on occasion forfeiture is the best option for any landlord and where that is the case we are able to quickly assess the position and advise on the most appropriate next steps. We often work on a no win, no fee basis in relation to these types of claims or alternatively on a fixed fee basis.
Commercial Rent Arrears Recovery (‘CRAR’) is a relatively new process that applies as an alternative to the old law in relation to ‘distress for rent’. Any landlord contemplating taking possession of a tenant’s assets, selling or disposing of them and applying the proceeds to rent arrears must take note of the CRAR process and must act in accordance with it.
If you are a commercial landlord or asset manager/agent and would like advice in this area we would be happy to speak with you to discuss this further. Please call 01273 761990 or email [email protected] and we will be happy to speak with you.