Harold G Walker’s Commercial Solicitors explain the options available to Landlords attempting to recover outstanding rent on a commercial premises.
If a commercial tenant does not pay the rent by the due date there are several remedies available to the landlord. One option is to use the Commercial Rent Arrears Recovery System. This means that the landlord does not need to waste time and money in obtaining a Court Order. He can instruct a certified bailiff to enter the premises with a view to recovering goods that can then be sold to recover the rent. It is a very quick process and in some circumstances can be implemented within days. Certain rules apply to the type of lease that will need to be in place before a landlord can use this remedy.
Another option is for a Landlord to obtain a Court Order and can then utilize the powers of the High Court to seize assets from the defaulting tenant. The assets can be seized from any premises that the business traders from or the registered office address. So for example, if the home address is the registered office address for a sole trader or a partnership then items can be recovered from the home address.
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Of course the Landlord may need to recover not only rent arrears but also the property itself and our Commercial Team can advise you as to the most efficient and cost-effective way to do so. For this and any other advice regarding the sale or acquisition of commercial property contact either Simon Nethercott or Hugh Storry Deans who each have over 35 years of experience in this area of law. They will be able to help avoid the many pitfalls associated with commercial property, which can be very costly particularly when setting up a new business.
For further information please contact our Commercial team.