Commercial Landlords and Tenants alike should note carefully the provisions of the Code of Conduct between Landlords and Tenants for Commercial Rents published this week by the Department of Business, Enterprise and Innovation, and operative until 31 July 2021. It is a voluntary code, and it provides a framework for conversation between landlords and tenants. It asks that, bearing in mind their own rights and responsibilities, not just under their existing commercial lease but also wider responsibilities, they discuss and if reasonable reach some compromise on financial obligations including rent, service charge and insurance.
Key to the success of the Code is a request and a need that landlords and tenants act transparently and in good faith, with the knowledge that they both have a common interest in, as the Code says, working together to enable viable businesses to continue operating, and to facilitate the resumption of normal trading activities through the period of recovery.
RDJ's extensive experience in this area means that we are in a position to advise tenants and landlords alike on all matters arising.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.