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Archive for the ‘Rent Review’ tag

CRAR

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Malcolm Poynter

Malcolm Poynter – Partner

In April 2014 new legislation came into effect known as the commercial rent arrears recovery or CRAR for short. One aspect of this is the need to give tenants at least 7 days notice of the intention to effect recovery of arrears under those provisions and it has emerged that some tenants are using this as a form of short term overdraft.

The British Property Federation is making various recommendations in relation to these provisions to the Ministry of Justice – one of which is that if the landlord uses this process 3 times under a particular lease then if further arrears arise no notice will be required.

 

For further details please contact Malcolm Poynter on 01635 521212 or malcolm.poynter@clmlaw.co.uk