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THE COMMERCIAL LANDLORD IN A PANDEMIC: WHAT TO DO ABOUT LEASE ARREARS

It will come as no surprise to hear that a large number of commercial landlords are becoming increasingly concerned about accruing or ongoing arears which have arisen (or been exacerbated) by tenants struggling in the current commercial climate.

The government has introduced legislation which has an impact on this [The Coronavirus (Scotland) Act 2020 (“the Coronavirus Act”)] and have also released some guidelines seeking to address and recognise the inevitable conflict that has arisen between landlords and tenants [The Code of Practice for Landlords and Tenants of Commercial Property (“the Code”)]. The requirements of the Act are mandatory, whereas the Code is advisory. Read more…