On 09 December 2020, it was announced that the Business Evictions Ban will be extended so business owners affected by the Coronavirus Pandemic will be protected from evictions until the end of March 2021. This final extension will give landlords and tenants 3 months to come to an agreement on unpaid rent.
This decision will also support businesses worst affected by the Coronavirus Pandemic (e.g.: bars and restaurants) by helping them rebuild over the winter period
A review of the “outdated” commercial landlord and tenant legislation was also announced, with the aim of addressing concerns that the current framework does not reflect the current economic conditions. It will consider how to enable better collaboration between commercial landlords and tenants, as well as working to improve the leasing process.
This announcement is a build on the extra government support for business and employees amid the lockdowns as a result of the Coronavirus Pandemic.
Knowing how to take control of your business finances to maximise profits can be difficult, especially with the current climate. Knowing the common mistakes to avoid can be difficult and can leave you feeling unsure.
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