Six months after the Irish Government imposed the closure of non-essential retailers, we are now beginning to witness the fallout for commercial landlords in the sector. In the early stages of the closures, we saw tenants attempting to negotiate deals with landlords. We are now seeing landlords, particularly those in shopping centres, taking legal proceedings against high profile non-performing tenants. We anticipate that this trend will continue. Retail Ireland, a representative body for the Irish retail sector, is calling for government intervention similar to that afforded residential tenants.
Forfeiting a lease as a remedy?
The recent Residential Tenancies and Valuation Act 2020 (the Act) has removed the uncertainty surrounding a landlord’s right to “evict” commercial tenants. We assessed this change here
Depending on the facts and the terms of the lease in question, forfeiting a lease by way of re-entry may be an attractive option for a landlord. A landlord
Continue reading this atricle at https://www.lexology.com/library/detail.aspx?g=098c74be-ccdb-42fc-8c00-b227e32c707b