THE pandemic has had a significant impact on many businesses’ ability to pay rent, and as a result there has been much talk about the negotiation that is taking place between landlord and tenant.
In response to the growing number of commercial rent disputes, Rics has launched a commercial rental independent evaluation service to help landlords and tenants negotiate payments during Covid-19.
The service is designed to ensure a clear, balanced dialogue between landlord and tenant, including an incisive analysis of the tenant’s grounds for non-payment and the landlord’s prerequisites for making concessions, and comes in response to government’s recently launched Code of Practice for commercial property relationships during the Covid-19 pandemic.
The Code of Practice contains recommendations that landlords and tenants use a third-party mediator to help with any payment negotiations during this difficult period of time.
To ensure the new service would help all parties involved, Rics consulted
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