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Assets

We recognise there is a fundamental need to secure your business critical assets, from vacant land, development sites and compounds, to plant, materials and fuel. As a leading provider of sustainable security, we are perfectly positioned to secure, monitor and protect your valuable assets.

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Eviction protection extended for businesses most in need until March 2022

Eviction protection extended for businesses most in need until March 2022
Eviction protection extended for businesses most in need until March 2022

Sorting out commercial rent debts will be key to enabling businesses to plan ahead with certainty and build back better from the pandemic.

  • New rules to be established to ringfence COVID-19 commercial rent arrears and guide tenants and landlords to agree repayment plans.
  • Measures to protect commercial tenants extended until new rules come into force.
  • Announcement welcomed by the hospitality sector.

Businesses that have had to remain closed during the pandemic and are unable to pay rent on their commercial property will continue to be protected from eviction, giving them the breathing space they need and helping to protect jobs, the government has announced on 16th June.

The legislation will help tenants and landlords work together to come to an agreement on how to handle the money owed – this could be done by waiving some of the total amount or agreeing a longer-term repayment plan.

This agreement should be between the tenant and landlord and, if in some cases, an agreement cannot be made, the law will ensure a binding arbitration process will be put in place so that both parties can come to a formal agreement. This will be a legally binding agreement that both parties must adhere to.

In order to ensure landlords are protected, the government is making clear that businesses who are able to pay rent, must do so. Tenants should start paying their rent as soon as restrictions change, and they are given the green light to open.

The existing measures in place to protect commercial tenants from eviction will be extended to 25 March 2022. This is to ensure that the sectors who are unable to open have enough time to come to an agreement with their landlord without the threat of eviction.

Statutory demands and winding up petitions will also remain restricted for a further three months to protect companies from creditor enforcement action where their debts relate to the pandemic.

(Source: Government Website)

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