Some positive news for small business owners.
The government has announced 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.
This comes after Communities Secretary, Robert Jenrick has announced that legislation will be introduced to ringfence outstanding unpaid rent that has built up during the businesses closure.
He said: “We have provided unprecedented support to businesses to help them through the pandemic. However, as we continue to lift restrictions and start to return to business as usual, tenants and landlords should be preparing to pay rent or come to an agreement if they have not done so already.
“This special scheme reflects the unprecedented nature of the pandemic and responds to the unique challenges faced by some businesses. It strikes the right balance between protecting landlords while also helping businesses most in need, so they can reopen when it is safe to do so.
“They will ensure many viable businesses can continue to operate and debts accrued as a result of the pandemic are resolved to mutual benefit swiftly. The government has committed £350 billion to keep businesses running, people in jobs and ensure we can build back better from the pandemic.”
This 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.
If you’re looking for affordable office space in Leeds or around, please contact our team.
