Should a commercial landlord agree to accept monthly rent when a tenant is struggling to pay on a quarterly basis?
This question is commonly asked by tenants who are experiencing economic or cash-flow difficulties.
Obviously each case needs to be considered on its own merits and our lawyers are hugely experienced in advising commercial landlords on these issues.
However, landlords do need to exercise care when departing from the terms of a commercial lease.
In this scenario for instance it is important to consider whether the landlord’s property is in charge to a bank. If it is then it is usual for the terms of lending to assume that rent will be paid quarterly. So, if a landlord accepts monthly rent they could inadvertently commit a breach of the terms of their lending.
You can avoid such risks by taking expert legal advice from a specialist in commercial property.
Our commercial property team deal with a variety of associated legal issues, details of which can be found HERE.
So, if you’d like an informal chat with a specialist commercial property solicitor then give us a call on 0333 888 0404 or email us at [email protected]
