Commercial Rent Debt Service
Update 12/08 – added Government policy document.
The Government issued a policy document on August 4th, this gives a framework to the commercial rent debt legislation – download your copy here > Policy Doc
On the 16th of June, Communities Minister Robert Jenrick MP outlined Legislation will be introduced in this session for tackling outstanding unpaid commercial rent that has built up when a business has had to remain closed during the pandemic and (landlords) to share the financial impact with their tenants. At the same time, the Government moved the moratorium on commercial eviction till March 2022 to allow enough time for the Government to consult with businesses on how best to tackle debt, the issues include:
- Ring-fencing of debt
- Personal Guarantees
- Binding Arbitration
The new arbitration process will be underpinned by law, providing commercial tenants and landlords with peace of mind that Covid-related rent debts will be settled fairly, and with finality.
Pubs Advisory Service is on hand to help, this is your opportunity to pre-register early for the new binding arbitration service that Government is going to bring in. Those pre-registering will also ensure PAS gets a seat at the table during the negotiations, a truly independent voice for pubs, unlike many trade org’s that are sponsored or majority funded by property companies, we can ensure your voice is heard.
Pubs Advisory Service has a long track record in winning Arbitrations and expertise with effective campaigning, we have brought in numerous bits of legislation that benefits businesses (SBEE Act 2015, Enterprise Act 2016, Pubs Code Eng/Wal 2016, and Scottish Tied Pubs 2022). We think we are best placed to help as we have extensive expertise not only with business legislation but with rent setting and commercial debt advice.
To pre-register click HERE