Recovering rent from non-paying commercial tenants

Webinar | Landlord & Tenant Advice

About This Webinar

Thursday 24 March, 08:30 – 09:30

New measures will be introduced from March which will have an impact on landlords, many of whom have already been left thousands of pounds out of pocket due commercial rent arrears arising during the pandemic.

While more commercial tenants are now paying rent, many still have arrears dating back to the beginning of the national lockdown period in March 2020. From 25 March 2022, the Commercial Rent (Coronavirus) Bill will establish a legally-binding arbitration process for landlords and tenants to settle outstanding debts.

In our panel discussion, we looked at the impact of the new legislation, including how landlords can deal with non-paying tenants and maximise recovery moving forward. We’ll also explore how the market is looking, including whether the recent spate of CVAs and restructuring plans have given tenants too much power to get out of unprofitable leases.

We will also discuss:

  • How are landlords dealing with rent arrears? Are they drawing down from rent deposits or pursuing guarantors?

  • Does the new legislation require disputes to be referred to arbitration, or will landlords still be able to use legal and insolvency proceedings to recover the arrears owed or terminate a tenant’s lease?

  • How are landlords persuading tenants to take-up space? Are landlords finding that they are having to give more incentives or are lease assignments more prevalent to other businesses thriving as we emerge from the pandemic?

  • How is the rental outlook and market generally? Is the market tenant-friendly and has the rise of CVAs had an impact on this?

Our Speakers

Guest Speaker

Niall Cassidy, Director
Colliers International Property Advisers

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0:07

 

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COVID 19 | Business leases

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1:30
Hello and welcome. I'm Justine ball a legal director here at Shakespeare Martineau and welcome to today's webinar on the impact of coronavirus on business leases. You will see on your screen that you are able to ask questions. So, please do get in touch along the way and I can answer as many as I can at the end.
1:50
Many landlords and tenants will be paying close attention to how the continuing spread of coronavirus over the coming months may affect their business and in particular their leased premises in the wake of the 2020 budget and the World Health Organization now declaring the coronavirus as a pandemic we can expect the government to introduce recommendations and restrictions to now delay the spread of the virus.
2:14
Knowing the parameters of your lease and good planning may help minimize the impact of any restrictions or recommendations imposed by the government. So today we will explore some of the concerns you may have as landlords and tenants.
2:30
So starting with tenants all businesses are likely to feel the effects of the virus travel and Leisure are being hard hit as a result of countries seeking to contain the outbreak with flight cancellations travel bans and tourist hotspots being closed businesses with office premises will also be affected as employees may need to work remotely which may put pressure on production levels.
2:56
As businesses start to feel the downward effects of the virus. You will be considering how you can support the payment of rent and other sums under your lease. So tenants will be considering whether there is any entitlement to a rent holiday are in suspension or rent reduction as a result of the sudden effects of the virus.
3:15
Unfortunately, this is very unlikely to be the case tenants will be unable to unilaterally withhold rent. However, you could seek to reach a negotiated position with your landlord tenant could seek to liaise with their landlords to explain and evidence the effects of the virus on their business to explore whether the landlords would be willing to agree a rent reduction rent holiday or even a payment plan. So rent can be broken down into more manageable payments.
3:43
However this It would be entirely at the landlord's discretion.
3:48
Another way of trying to get rent covered is through insurance. If you have insurance, you should review your policies to consider whether the effects of the virus could be covered the type of insurance you need to look for is business Interruption insurance. If you have a policy which includes business Interruption, you will also need to look at whether such insurance covers property damage only whether it also includes non property damage.
4:14
The latter is more unusual, but policies should nevertheless be checked as tenants may be able to claim rent. It is unable to pay as well as other losses if it has business Interruption Insurance, there may be a way for tenants to pay a reduced rent, but this will only be the case if tenants pay a turnover rent.
4:34
So if you pay a rent in accordance with a turnover Clause, then you may expect a reduction in the amount of turnover rent you pay if you see a decline in your taking Tenants will be contractually obliged to pay the base rent in accordance with the turnover rent Provisions, but tenants could see a reduction in the amount of additional turnover rent paid to the landlord at the end of the rental period as this is usually calculated on the basis of a business's turnover.
5:03
Whilst this won't result in an immediate rent reduction. There may be some relief for tenants at the end of the rental period which may be welcome. If businesses have been struggling up to that point whether or not a turnover Clause will apply will depend on the terms of the provision in your lease and whether there are any other lease requirements on the tenant to keep open and maintain active trading throughout the period this is usually a condition of some turnover rent provisions.
5:30
But also need to consider whether any forced cessation of trading would be affected on a slightly separate note. If it is the case that you consider that you're unable to trade at all from the premises check your lease for a tenant break laws whilst this will not result in you being able to immediately cease paying rent. Once you have served the break notice and any break conditions have been met and the number of months notice have expired you would then escaped the liability to pay.
6:00
Rent for the remainder of the term. But of course you would still have any dilapidation liabilities to consider.
6:07
So moving on you, maybe the tenant of the Morty let building or a shopping center If a landlord closes the center then arguably the landlord has breached its lease obligations to you to not derogate from Grant and to allow you to quietly. Enjoy the premises.
6:24
The strength of this argument will depend on the circumstances around the closure if the landlord has unilaterally decided to close the building and no such guidance has been issued by health and safety executive Public Health England or the government then your claim is likely to be stronger.
6:43
However, if the landlord is following guidance from regulatory bodies all the government, then it may be more difficult to make that claim.
6:51
In any event tenants should take steps now to preserve evidence in order to raise any claim for damages against landlords as necessary at a later date.
7:01
For example, you should track and retain full records of the takings of your business loss of profits footfall and any other direct costs, which you have incurred over the affected period tenants can then seek to use this information to try and negotiate a rent suspension of rent reduction or rent holiday as well as other songs you pay The nice if the landlord isn't willing to agree a reasonable soon as I set off you can then assess your position with the available evidence. You have collected and consider at that point whether it is necessary to threaten a breach of quiet enjoyment claim. So thirdly if it becomes necessary for tenants to close their business premises, they will need to consider whether this will be a breach of Covenant in their lease to keep trading and to keep the premises open.
7:52
This is likely to be a major cause of dispute between landlords and tenants particularly since a keep open Clause can be linked turnover rents and breach of that covenant could result in forfeiture of the lease a damages claim being brought against you or a claim to force a tenant to reopen its business.
8:12
However, it is extremely difficult for a landlord to succeed in forcing a tenant to reopen its business. Should it choose to close the same this would be even more difficult to achieve if tenants have closed businesses because of government and Regulatory bodies guidance.
8:29
If you are looking to close the business temporarily for other reasons, these should be explained in detail to the landlord before closure. If possible. In order in order that you can then seek to reach an agreed position on the period of closure with the landlord to try and avoid any potential action from them. So now turning to landlords.
8:50
Landlords are likely to face claims by some tenants that they cannot survive as a business without full access to and use of their premises and an adequate number of Staff tenants May. Therefore try to argue that their leash should be brought to an end all together as a result of the football restrictions reductions in takings and the effects to supply chains as a result of the virus.
9:11
So on that basis tenants could seek to argue that their lease has been frustrated by the outbreak of the virus.
9:18
However, it is extremely difficult to argue that Elise has been frustrated as the case of Canary Wharf The p41 Limited versus European medicines agency highlights in 2019. In this case. The tenant European medicines agency failed to persuade the court that brexit was an event capable of frustrating the purposes of the lease. The bar has been set very high by the court and tenants are unlikely to be able to successfully argue that their leashes should be.
9:48
Brought to an end by frustration due to the virus given that it is transient and temporary in nature the frustration to be a credible argument tenants would arguably need to prove longer-term and significantly damaging effects of the virus on the premises and their businesses.
10:07
They must prove either that it is impossible for them to perform their obligations as a result of the virus or their obligations are drastically different than was first envisaged tenants could could be assisted by any guidance from the government that must be followed. However, even this may not be sufficient as arguably the outbreak of public disease is within the contemplation of the parties given previous events.
10:32
Landlords should therefore be ready to resist any challenges by their tenants on this basis.
10:39
I'll also slightly touch upon force majeure Clauses which are well known in commercial and construction contracts. However, they are rarely found in commercial leases. Although granted.
10:49
Some older leases may contain these If there is a force majeure clause in your lease whether the virus can be seated as force majeure event will depend on the wording of the Clause. However disease such as a pandemic is unlikely to be considered as a specific act or event given its evolving nature nevertheless. If there are government impose restrictions that may give rise to an event such as a quarantine and a lockdown. It may well fall within the force majeure provisions and the lease could be brought to an end.
11:22
Only if it contains such a provision. So moving on to insurance with the mounting pressure on tenants being required to pay out various sums tax rates utilities with the reduced some coming into their business. They may seek to invoke the rent suspension clause in their lease.
11:42
Standard uninsured and insured risk provisions of unlikely to cover losses as a result of the effect of the virus.
11:50
It is worth considering though, whether the possible consequences of disease such as civil commotion would be caught by insured or uninsured risks. You must check your lease.
12:00
In particular rent suspension is only likely to occur where an uninsured risk has caused damaged or has destroyed the premises the virus is unlikely to cause such physical damage, but we can query where the contamination of the premises by the virus could equate to damage particularly since premises are likely to be shut while the damage has been remedied.
12:22
It is worth checking your risk Provisions as depending on the drafting. It may well extend to premises that have been closed and not just being damaged or destroyed.
12:34
But looking at standard uninsured and insured risk Clauses that you see in modern laces. It is unlikely to include such caveats and on balance. It's unlikely that tenants will be able to rely on those Provisions for rent suspension. So looking at service charge now as the government is looking to step up its efforts to delay the spread of the virus. It is likely that we will see the government imposing requirements for building owners or landlords or even tenants to undertake extra cleaning services.
13:03
Has and deep cleaning of their premises whilst there is unlikely to be any explicit obligation in your lease to require you to provide additional services to prevent disease any in positions by the government will need to be undertaken quickly.
13:18
Supplying these additional services will come at a cost and depending on the wording of your service charge Claus. It is likely that you will be able to recover the cost of any additional cleaning from your tenants. Therefore you should give notice to your tenants of the additional cleaning and maintenance required and recharge this to them in the usual way the provisions you should look out for which would cover these costs are any relating to hygiene management and cleaning security and the general Provisions allowing.
13:48
Free of costs in line with the principles of good Estate Management, which is usually a sweep up clause.
13:54
It is also often a provision which requires costs to be incurred reasonably, but in the circumstances, it appears unlikely that tenants could argue that the provision of additional security or additional cleaning could be unreasonable in these circumstances. We've also had a number of queries as to where the landlord should improve controls of access to premises such as forcing visitors to utilize hand sanitizer.
14:17
Services included in the model commercial lease for office premises allows landlords to recover costs for the provision of facilities for visitors of the building. So this would cover eventuality and such costs could be handed down to tenants. So it is key for landlords to check the extent of their service charge Provisions to understand what is and isn't covered.
14:40
So the top action points both landlords and tenants need to undertake as the threat of the coronavirus evolves are check your lease Provisions understand your rights and obligations in order that you can formulate a tailored plan for your business.
14:57
Keep yourself up to date with guidelines from the government World Health Organization and Regulatory Agencies such as the health and safety executive and public health England. This guidance is key and will help you plan ahead for your business and understand your legal position.
15:13
Keep records book for turnover staff absences profits losses supply chain interruptions. This will help justify any action. You may need to take to minimize the impact of the virus. So the more evidence you can collate and keep the better.
15:33
Keep your tenants or landlords updated as to the current position of your business. If you feel it necessary communicate the effects of the virus on your business or the plans you wish to take to tackle the same with your landlord or tenant Paper Trails are important.
15:48
Also engaging and negotiating with landlords and tenants be willing to engage with them on the issues. You are facing you may find that your landlord or tenant understand your position which could result in a negotiated resolution that benefits both parties. So, how can we help here at Shakespeare Martineau? If you sent offshore lease we can help you understand your rights and obligations. If you are renewing your lease, we can consider what additional protections you should be seeking.
16:17
Going to contain there in.
16:20
We can also lead you in the right direction as the type of information you should be collating at this time to ensure you are keeping appropriate and necessary records. We can also help you formulate a strategy to cope with the effects of the virus on your business premises and leases.
16:35
So thanks to all of you who have joined us today. And listen to this webinar about the impact of coronavirus on business leases. I can see that I've had a few questions come through. So I will answer a couple now, so let's take one for tenants and one for landlords.
16:53
So tenants, you've asked me what you should do. If you have to cease trading temporarily due to coronavirus. So as I touched upon earlier on it depends on the circumstances, but if there are no requirements for your business, too close by the government, then you should consider why you are seeking to close the premises and whether it is absolutely necessary to do so.
17:16
As mentioned earlier if your lease has a keep open Clause you could be liable for breach of this Covenant.
17:22
However, if it is the case that you have no or minimal staff due to self-isolation or you can produce strong evidence that the coronavirus has shut your business and trading then it may be worth liaison your landlord now to confirm the position and state that it is necessary for you to close the premises temporarily you can then try and agree with your landlord a period of closure and request confirmation. The landlord will not bring a claim against you for breach of that Covenant in the circumstances.
17:50
And the second question will take from the landlord side. What a my obligations to my tenants in relation to the coronavirus. Do I need to be doing more to look after their care? So landlords will have a duty of care for the health and safety of its tenants as well as visitors contractors and employees and this Duty will include the risks posed by infectious diseases.
18:13
You should therefore carefully consider the current threat in light of the most up-to-date news on the outbreak and take into account the following advice. You should obtain health and safety recommendations from your health and safety advisors. You should put in place any further preventative measures that need to be taken in relation to the building itself such as additional cleaning security provision of hand sanitizer Etc.
18:41
You should also be Consulting and liaison with your employees about any risks and any measures that they need to take both inside and side of the premises So that concludes the session thank you for listening. And for your questions. I will follow up those. I haven't been able to answer today after the session the next webinar in our coronavirus series is tomorrow at 12:30 on minimizing Financial risks to businesses with Shaun Moran. So if you'd like to get in touch with us, please do so you'll see the details shown up in front of you.
19:19
You can call O 3 3 3 0 0 2 4 0 3 3 3 and ask to speak to me or another member of the real estate disputes team or you can visit our coronavirus hub for advice and guidance.

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Webinar

COVID-19 | How business and retail tenants can manage their quarter rent?

COVID-19 | How business and retail tenants can manage their quarter rent?

With a threat of even tighter government restrictions on the movement of people, this is having a major impact on tenants, especially retailers, generating income from a non-existent footfall.

The next quarter rent date is looming, and the impact of coronavirus has been severe. In this webinar, we’ll discuss what tenants can do with their landlords over the next few crucial days to try to save this expenditure.

Further information on how to manage the impact of coronavirus can also be found on our coronavirus resource hub and you can view past webinars at SHMA®ON DEMAND.

Please do let us know of future topics that you are interested in, or for more information about our webinars please contact us.

This webinar was recorded back in March 2020 and whilst all the guidance is still relevant the government since the recording has new introduced new measures restricting the use of some recovery options for landlords including the use of stat demands and the use of CRAR. These restrictions are in place until 30th June.

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Webinar transcript

(Please note this is auto-generated and un-edited)

0:33
Hi, I'm Justine Ball a Legal Director here at Shakespeare Martineau. Welcome to today's webinar on how business and Retail tenants can manage the March quarter rent, which is approaching within the next couple of days.
0:48
This is a follow up on my first webinar on the impact of the coronavirus on business leases, which if you miss this, you can still listen to on our dedicated resource Hub. Shm a DOT Co dot u k or just contact me directly and I'll send you the link you will see on your screen the you are able to ask questions. So please do get in touch along the way and I can answer as many questions as I can at the end.
1:13
Following the government setting out even tighter restrictions on the movement of people and the strongest recommendation of social distancing.
1:20
We are seeing less and less people in public places pubs clubs restaurants and gyms are now all closed and many shops and retail outlets are beginning to close all so it's understandably a worrying time for all UK businesses and in particular the Leisure retail events and Hospitality sectors as fall is reduced to near zero and takings are being significantly affected as businesses rely on install spending for income generation even with the sweeping measures that were introduced by the government last week in response to the impact of the coronavirus cash flow is imperative for tenants in this crucial time to stay afloat for the longer term preservation of their businesses the March quarter day is around the corner so this webinar will provide tenants with advice on what they need to be considering now in order to seek to avoid paying the March quarter rent so that they can redirect these much-needed funds to other areas of their business so how can you avoid paying the March quarter rent for many tenants payment of the March quarter rent and the June quarter rent will significantly harm their business at a time when they are seeking long-term viability as a result of this book Shock to the economy as set out in my previous webinar. It is key that tendency to make contact with their landlords immediately in relation to the payment of the March quarter rent. This should be done in writing or initially a call which should then be followed up in writing so that you can evidence a paper trail down the line.
2:57
In the first instance tenant should be requesting a rent-free period or a 100% rent concession or rent waiver for at least one quarter to offset the sudden impact of the coronavirus on your businesses. You can then assess the further impacts of the virus over the next quarter to then consider whether you should be requesting the rent free periods.
3:17
Be extended to the June quarter asking for a longer 6 to 12 months rent-free period at the outset is unlikely to encourage collaboration, but it's Aspirate a negotiation tenant should be putting forward a proposal that is both reasonable and credible to encourage an agreement.
3:36
If the landlord is willing to agree a rent-free period or a hundred percent Renkin session, then this can be documented in a memorandum or side letter. There is a risk to landlord receiving adverse publicity. Should they fail to support tenants at this crucial time? And this may be why we are already seeing landlords agreeing to rent free periods. You may have heard of Argent. There is therefore a real possibility of tens being able to negotiate something similar with landlords if you act now.
4:07
Landlords understand the potential alternatives to the refusal of a rent concession at a time where there is a genuine need by their tenants. Laura Ashley has been the first casualty of the retail sector since the coronavirus hit our Shores with it heading for administration if landlords fail to listen to you, then there is a huge risk to them of rising numbers of tenants falling into a form of insolvency, including liquidations administration's and the proposal of cvas.
4:36
I do not recommend threatening insolvency If a landlord does not agree to a rent concession, but tenants should highlight there being a risk of this if landlords fail to work with you during this uncertain and dare. I say the word unprecedented time.
4:53
Should tenants propose a CVA not only could this negate the payment of any arrears, but the level of future rent also in the event of insolvency landlords are likely to lose money given the likelihood of receiving nothing from the insolvent tenant company the additional time and cost incurred in dealing with insolvency practitioners, the logistics of emptying premises and the effects of having empty promises as I will mention below.
5:21
So if landlords want to avoid this and preserve their long-term income, they should be working with you to reach an agreed position and this should be highlighted to them.
5:31
It may be that some of your landlords refused to Grant a rent-free period or a hundred percent concession as they themselves may be small businesses. If this is the case an alternative would be to negotiate a partial rent concession or even a rental holiday. This could be where rent is not paid for the next one or two quarters. And then it is amortized over the remaining term of the lease.
5:56
Whilst this won't be the ideal position for tenants as businesses will not know when the impact of the coronavirus will return to normal levels. It could be an agreed way forward to provide some immediate much-needed relief for tenants and a way for tenants to work with landlords, which are small businesses themselves.
6:15
If you are unable to reach agreement with your landlord either for a rent-free period or rent concession, and the landlord is nevertheless requiring you to The rent on the 25th of March then you should consider the following. Don't pay you could simply not pay the March quarter rent.
6:37
This carries the obvious risk of the landlord forfeiting your lease and bringing it to an end by Peaceable re-entry or by Court proceedings. However in the current climate, it seems unlikely that landlords will take full action to terminate your lease.
6:54
This is because the landlord would have surrendered the rent that would otherwise be payable for the remaining term of the lease. It would also be required to pay business rates for whatever period the premises remains vacant after any empty promises relief that have been reduced by the government.
7:12
after any empty premises relief introduced by the government Depending on the location of the premises it may well be very difficult to read let the premises to another tenant. So landlords could be denying themselves future income further. The valuation of larger assets are affected by the number of empty units. So should there be higher numbers of empty units or premises in centers parades and Outlets this could damage the value of landlords portfolios.
7:44
Looking at the risk of litigation against tenants or even guarantors. This will also be lowered a landlord would be unable to effectively utilize cry which is the commercial rent arrears recovery process as the premises in which they could take control of goods are likely to be closed any litigation that is commenced is likely to be delayed further by many months and by which time landlords could be at greater risk of tenant insolvency such as CVS and liquidations.
8:13
In light of all this tenant should consider whether they should actually pay the March quarter rent. There is still a risk of action, but it is a balancing exercise and tenants may consider that this risk has been reduced by the impact of the coronavirus of course tenant should consider whether their landlords have any intention to redevelop or take up occupation themselves. So has there been any discussions or suspicions about this in the past? It may be their opportunity to see possession of the premises.
8:43
If rent has not been paid, so each of your premises will need to be considered individually.
8:50
But what about if you have paid the March quarter rent already tenants, you should still approach your landlords and see if you can get a refund of the rent paid do not just assume because you have already paid the rent. You should let this lie get in touch with your landlord and landlords agents and see whether you can negotiate a payment back to you to cover any essential outgoings. See if any other tenants in your sensor or parade with the same landlord has been granted relief for the March quarter.
9:20
Because if so, you should receive a refund like they have been granted a rent waiver.
9:26
If a landlord is not willing to refund the rent then kick start negotiations for the June quarter particularly since you've already paid the March quarter And looking at tenant termination you should review your agreements and see whether you are holding over on a business lays that has expired whether it's about to expire or consider license arrangements or if your lease or license contains a tenant break laws. If so tenants could unilaterally seek to serve notice to terminate your agreements and avoid payment of future and you will not need landlords concerned.
10:01
However, if you terminate by serving a break no, This it may well have conditions that will need to be strictly met in order to terminate the lease. These will need to be considered further. You may have a liability for dilapidation, 's once the license or lease has been terminated which will also need to be considered. But at least by serving notice you are bringing an end to future liabilities under your lease.
10:28
So in a nutshell what do tenants need to do now, and how can we help?
10:33
My top action points for tenants now are make immediate contact with your landlord and propose a rent-free period to avoid paying the March quarter rent or if you have paid seek a refund also put it in writing if the initial answer from the landlord is no be persistent and negotiate set out some of the points made in this webinar today and see if you can persuade your landlord to reach an agreement.
10:59
Consider all the circumstances and the risks and consider not paying the March quarter end. There will be a period of time before the landlord can physically re-enter or issue proceedings to Forfeit the lease. So there is time to capture the attention of your landlord and you can recommence negotiations to see if an agreed position can be reached.
11:21
Check your laces. You may have a tenant break option or be able to terminate the lease or license.
11:28
And finally, keep yourself up to date with schemes that are being introduced by the government. The government have already introduced 25,000 pound grants to retail hospitality and Leisure businesses operating from smaller premises with a rateable value of over 15,000 pounds and Below fifty one thousand pounds as well as the coronavirus business Interruption loan scheme.
11:52
All UK businesses are currently looking over the precipice into the unknown and now More than ever is the time for landlords and tenants to collaborate in order to preserve the value of their businesses and their working relationships.
12:07
So how can we help our real estate disputes team have the scale and expertise to assist your negotiations and make formal approaches to your landlords. But the time to act is now sent to Offshore leases or licenses and we can help you formulate a proposal to your landlords. We can advise you on your termination Provisions how to meet your brake conditions and how to manage any of your applications liability.
12:32
If you find that a landlord is taking enforcement action or commencing litigation we can help just get in touch. Thanks to all of you who have joined us today and listen to this webinar about how business and Retail tenants can manage the rent core today. I can see that I have ever had a few questions come through. So I'll answer a couple now.
12:52
So the first question is what if a landlord for fits my lease by peaceful re-entry because I failed to pay the March quarter Ren. What should I do?
13:02
If the landlord peaceably re-enters you have options to get back into your occupation of the premises, of course, this will depend on whether you actually want to go back into occupation or whether you are happy to accept the forfeiture to avoid having to recommence occupation and continue paying sums pursuant to your lease for the remaining term. However, if it is the case that you do want to get back into occupation, then you can issue Court proceedings for relief from forfeiture.
13:30
This means that you can make an application to the court for an order to reinstate your lease. But in order to obtain relief from forfeiture, you will be required to pay the rent sewing and the cost. The landlord has incurred in the relief from forfeiture proceedings. It can take a few months to get back into occupation as the court will need to order relief from forfeiture at a hearing and it could take some months for this to be listed in the current climate.
13:58
Alternatively you could seek to engage with the landlord to agree to enter into a new lease on the same terms of the previous lease, but this would be subject to negotiation.
14:09
So the final question I have time for is I have a business lease which expires next month and I do not want to remain in the premises. Do I need to serve notice now to vacate? That's a good question. No, you do not need to serve notice to vacate. You can just vacate by the contractual expiry date of your lease as a matter of courtesy you should inform the landlord that you are vacating, but you do not need to give the landlord any set period of notice.
14:39
Can just cease trading remove your goods and leave the premises as long as it's before the contractual expiry date. However, if it was the case that your business leads had just expired and you remained an occupation after the contractual expiry date, then you would need to give a period of notice to terminate your lease. But please feel free to contact me to discuss this further. So that concludes the session thank you for listening and for your questions. I will follow up with those I haven't been able to answer today after the session for all.

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