Rent and service charge recovery is arguably the most common source of tension between landlords and tenants – particularly in the current economic climate.
Many tenants are struggling to keep on top of their lease liabilities, while landlords are taking more robust action to prevent the build-up of arrears. In both cases, it is difficult to overstate the importance of specialist legal advice.
Often it is better for landlords to have a tenant in arrears than no tenant at all. However, the landlord or management company can take a number of steps against a defaulting tenant, including:
- Forfeiture of the lease either by court proceedings or peaceable re-entry
- Levying distress through a certificated bailiff
- Drawing on a rent deposit – a quick and simple recovery method
- Seeking recovery from a sub-tenant
- Bankruptcy/winding-up proceedings – often the threat of insolvency will result in payment.
If you are a tenant in arrears, it is best to speak to the landlord as soon as possible rather than risking further action, which involves escalating legal costs. Whatever situation, it is better to take prompt legal advice to address the matter at an early stage.
Let our experience make yours that much easier:
At Woodcocks, Haworth and Nuttall we consider the wider commercial objectives and implications of any arrears dispute and work tirelessly to find the right solution.
We provide a service tailored to your business needs as we understand that all clients have their own approaches and priorities. Our dedicated and experienced legal team specialises in arrears recovery and tenant default at all levels, from high street retailers to international portfolios.
Contact us today