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Major Changes to Rent Recovery of Commercial Premises
The introduction of the Commercial Rent Arrears Recovery Regulations will contain the provisions of the Tribunals Court and Enforcement Act 2007 will come into effect on 6th April 2014. This will create greater protection for tenants and make it more difficult for landlords to recover rent arrears. Under the new Scheme, a landlord can still seize and sell the tenant’s goods and offset the sale proceeds against rent arrears, but this will be in more limited circumstances.
This Scheme contains the following conditions, which must be satisfied:-
Unfortunately this process will of course make it harder for landlords to recover rent arrears and will alert the tenant as to the imminent enforcement.
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