After reading an article in The Times today, I am really proud of the work that we have completed on behalf of commercial landlords and commercial tenants in reaching amicable solutions over rental arrears and renegotiations.
With thousands of businesses struggling to meet cash flow and many on the brink of collapse, it is a tough time out there for many that are tied into renting commercial premises and offices.
WeWork has been accused of “profound hypocrisy” as it aggressively pursues clients over unpaid rent in full whilst at the same negotiating with its own landlords over its liabilities.
Whilst the government has sought to protect struggling companies with a coronavirus-related eviction moratorium, WeWork has been able to sidestep the measures because its customers occupy its offices with a “licence” rather than a tenancy.
It is a difficult line to tread, landlords are reluctant to squeeze tenants and risk being left with an empty property, but many are either under pressure from their own lenders or in the case of smaller commercial landlords they rely heavily on the rental income for a salary or pension.
Other tenants have seen landlords skirting the ban by taking cash from tenant deposits and demanding that deposits are topped up or repaid.
Since March 2020, we have worked on behalf of both landlords and tenants to reach amicable solutions which and will no doubt lead to the best outcomes for both parties.
If you are in this situation and would like to talk over options, then please contact us in confidence.
Link to the Times Article
https://www.thetimes.co.uk/article/tenants-chased-for-rent-accuse-workspace-group-wework-of-profound-hypocrisy-dtjjn70fp
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