Commercial Rent Arrears Recovery is coming to force April 2014. This replaces the common law remedy of distress and is something all commercial landlords should be fully aware of.
The principles under CRAR are: rent arrears can no longer be claimed for oral occupancy agreements, they may only be claimed on the commercial element of the property and only rent arrears may be recovered, i.e., other costs such as insurance and service charge fall outside CRAR.
Are you fully up to speed with this critical new legislation? Now may be the time to act if you have outstanding arrears. For further details we would recommend either contacting the office or liaising directly with your retained solicitor.
