Unpaid rent bills from commercial property tenants has mainly come from the retail and hospitality sectors. Many tenants, who have had their rent deferred by their landlords, fear they will not be able to pay the deferred rent when the moratorium ends. Some landlords say many tenants can pay but are choosing not to and are taking advantage of the pandemic. The Government has said “This is not a rent holiday. Rent is still owed, and where tenants can afford to pay they should do so.” UK Hospitality says it is a welcome step and will give much-needed breathing room, but it is only a stay of execution, it is not going to solve the crisis and more support is needed. However, landlords, who are not receiving any rent, who have not received any rent since March and who do not think they will receive any rent for at least another 6 months, are now looking to sell their retail and commercial properties as they can no longer afford to hold these large assets with no income.
Leave a Reply
You must be logged in to post a comment.
- Shops in Wales
- Edinburgh Woollen Mill collapses into administration
- Commercial Property Market So Far In 2012
- High street retail shops continue to close
- An Estimated 30,000 Jobs to Go on the High Street in 2013
- Lease Terms Are Getting Shorter
- Ban on business evictions extended to the end of 2020
- Who Buys Shops