COVID Moratorium – an astonishing intervention into the Real Estate market

 COVID Moratorium – an astonishing intervention into the Real Estate market

Commercial tenants who are unable to pay rent having had to remain closed during the pandemic will continue to be protected from eviction until 25 March 2022, whilst statutory demands and winding up petitions will remain restricted for a further three months.

It was, perhaps, predicable that the restrictions on forfeiture and other landlord enforcement options would be continued – however it was not anticipated that the extensions would last into 2022.

In another terse announcement, it has just been confirmed by the Government that restrictions on forfeiture of leases for unpaid rent will continue until 22 March 2022.

The restriction on the use of Commercial Rent Arrears Recovery (CRAR) will also continue with 554 days of arrears being required before CRAR can be used.

Meanwhile, the Government has announced that legislation will be introduced in this Parliamentary Session to ringfence rent arrears which have built up during…

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