Commercial Lease Repossession

11 April, 2023

 

If you are a commercial landlord, it is likely that you have encountered periods where your tenant has been unable to pay the rent. In these circumstances, you may want to regain possession of your property back, perhaps to find new tenants and generate income.

Your lease may well state that you have the right to forfeiture and re-entry of the property. However, this is not the most straightforward right to exercise, and can lead to more problems if the process is not followed correctly, especially where rent has been chased.

In addition to recovering the property itself, consideration should be given to whether there is a significant amount of rent outstanding and whether this could be successfully recovered, the quality of the letting market and the potential for tenants, and whether alternative arrangements may be made.

If you wish to discuss your options regarding possession of your commercial property, or the debt recovery options available to you, please contact Kate Naylor on 01244 400 567 or / kate.naylor@storrarcowdry.co.uk