On Wednesday 16 June 2021, the Government announced that it will be extending the moratorium on the forfeiture of a commercial lease and the Commercial Rent Arrears Recovery Process (“CRAR”) by almost 9 months, to until 25 March 2022 (“Relevant Period”).
This means that during the Relevant Period a landlord may not forfeit a relevant commercial lease on the grounds of non-payment of rent. A landlord can not exercise rights under CRAR where the arrears of rent are less than 6 quarters (18 months).
There is an alternative to forfeiture and CRAR which is where a landlord can issue court proceedings in the County Court to pursue a claim for unpaid rent. The judgement can then be transferred to the High Court for the purposes of enforcement.
Acclaim Credit Management & Recovery, the debt recovery division of Chadwick Lawrence Solicitors, have the expertise and knowledge to assist landlords to recover unpaid rent through the courts.
Acclaim’s team of dedicated recovery professionals pride themselves on their ability to provide a high level of service whilst at the same time remaining focused on the main goal, namely recovery of rent.
Acclaim Credit Management and Recovery provide a fast, efficient and flexible credit management and commercial debt recovery service which utilises market leading technology to provide a results driven recovery solution.
As part of Chadwick Lawrence we are regulated by the Solicitors Regulation Authority and operate to the highest industry standards. We understand that times are difficult for both commercial landlords and their tenants. Your reputation is important to us. Your customers are important to us.
If you require any further information in relation to our services please contact a member of our team today:
Tel: 0113 2258847 Email: Mattperry@acclaim.law
Tel: 0113 2258815 Email: Danhirst@acclaim.law
Tel: 0113 2258853 Email: Seanthornhill@acclaim.law