With lockdown measures gradually easing after 12 weeks and an uncertain property market caused by covid19, now is a good time for landlords and tenants to receive professional guidance on lease extension or freehold claims under the Leasehold Reform Housing and Urban Development Act 1993.
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On 19 June 2020, the Government issued a new voluntary Code of Practice for commercial property. The Code has been developed with leaders from the retail, hospitality and property sectors to provide clarity for businesses when discussing rental payments and to encourage best practice between landlords and tenants so that all parties are supported.
Read MoreAs we fast approach the June quarter when there is likely to be further tenant default on rental payments, landlords should check whether they are entitled to recover any sums due to them from former tenants/their guarantors under the terms of an authorised guarantee agreement. There is a strict process and timescale to bear in mind.
Read MoreSince our last update there have been further changes announced to the Coronavirus Job Retention Scheme (furlough scheme). The changes reflect people returning to work over the coming months and, from August 2020, employers start to share the burden of paying furloughed employees on a staggered basis.
Read MoreThe UK left the EU on 31 January 2020 and, shortly after, the country became preoccupied with coronavirus. The UK is in a transition period until 31 December 2020 during which time it is still largely aligned with the EU. After that, either the UK will have a suitable trade deal or it will move to WTO terms. This focus on more pressing matters means there has not been much progress on negotiating the trade deal.
Read MoreOn 20 May 2020, the Government published the long-awaited draft Corporate Insolvency and Governance bill (the Bill).
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