Sarah O’Mahony: Practical considerations for both landlords and tenants
Sarah O’Mahony, associate in the real estate team at William Fry, explores the challenges ahead for landlords and tenants of commercial property.
As a result of the COVID-19 outbreak, landlords and tenants of commercial property have had cause to closely consider their respective obligations under a lease. Many businesses have closed, whether pursuant to a directive from Government, to safeguard staff or because of a huge fall off in trade.
A lease is a contract between the parties and, failing the enactment of specific legislation altering the relationship between landlords and tenants or relieving either party from their lease obligations in light of COVID-19, the provisions of the lease remain fully in being.
We consider below some of the key questions being posed to us so far in the context of COIVD-19:
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