An issue that is causing concern, our client summaries the topic.
Pandemic clauses
The pandemic has had a significant impact on the hospitality and leisure sector. Many businesses were unable to trade fully or at all and had to close, which has had a devastating impact on them.
In light of this, tenants are looking for more flexible leases with shorter terms and break options. In addition, tenants are looking to include “pandemic clauses” to provide either a rent reduction or rent suspension in the event of a lockdown or future pandemic.
Landlords are recognising that pandemic clauses are now going to be the new norm but that there is no standard industry wording at this point. Therefore, it’s useful to consider what provisions could be negotiated between the parties.
https://www.myerson.co.uk/news-insights-and-events/pandemic-clauses-and-rent-suspension
Related Blogs
-
The news that multiple dwellings relief will soon be scrapped has been criticised by the British Property Foundation
Read More -
Proposed car tax changes
Read More -
Practising certificate fees
Read More -
Many people with big homes want to downsize to save on bills
Read More -
Over 2,000 charities have benefited from charitable gifting thanks to FreeWills
Read More -
What's coming up in the UK employment law
Read More