Commercial Property Assistance      

 

So you have a commercial property. Maybe it is your profession or maybe you have invested your pension in commercial property. Unfortunately, your tenant is now going through some difficult times and has fallen into arrears based on the terms of your lease. As a commercial landlord, you are in a very good position to ensure collection of debt as well as to help to secure the position of your tenant in his endeavours to survive. 

To instruct us to be your agent, send us this simple “Submit Commercial Property Assistance Form”.

 

 

Commercial Rent Arrears Recovery (CRAR)   

There are regulations for recovering rent arrears for commercial tenancies. However, it is to be noted that the regulations only allow a landlord to recover rent arrears.  They do not allow recovery of service charges which must be recovered through the County Court and obtaining a County Court Judgment which we can transfer to the High Court to enforce.

Ensure that “rent” contains no non-rent elements and that all requirements and regulations are met for successful Commercial Rent Arrears Recovery (CRAR).

To instruct us to be your  agent, send us this simple “Submit Commercial Property Assistance Form”.

 

 

Conditions for Commercial Rent Arrears Recovery (CRAR)

With regards to Commercial Rent Arrears Recovery (CRAR), there are certain conditions :

You must have a written lease with your debtor and no part of the property is to be let or sub-let as a dwelling.

Your tenant must have accumulated at least seven days of rent arrears.

To instruct us to be your agent, just send us this simple “Submit Commercial Property Assistance Form”.

 

 

Commercial Rent Arrears Recovery (CRAR)-Enforcement Notice within 24 Hrs         

Provided that the above conditions are met :

Under the regulations, within 24 hours of the conditions being met, we issue the tenant with the Notice of Enforcement required and often, depending on the timing of instruction, we issue it on the same calendar day. 

This  Enforcement Notice gives the tenant 7 clear days in which to pay the outstanding rent together with our charges under the regulations.

If the tenant does not pay after this Notice,  our Enforcement Agents will visit the tenant and always with the aim of taking payment in full from the tenant at this first visit.

If payment by cleared funds is not made, it is then that the Enforcement Agent takes control of the tenant’s goods located at the address for which the rent arrears are due. 

This is done by obtaining a Writ of Control over goods and tangible assets located within the premises.  The taking control of goods is a detailed inventory of the goods found within the curtilage (area) of the lease, usually inside the building. Dependent upon the lease, this can also include car parking spaces or compound storage and common areas.

We either sell these goods at auction to obtain funds to settle your debt or hold them as security until your debt is settled in full. 

There is nothing quite like focussing your tenant’s mind on the issue in hand as taking control of all his assets on the premises and potentially stop his trading through the sale at auction. In reality, the best option for all is usually to leverage a result based on the security you now hold. 

UK-Debtcollection.com keeps you informed of progress because, after attendance, we will send you a written report of action taken or contact you by phone if we require urgent instructions.

Our CRAR service is fast and responsive, ensuring you receive the money you’re owed quickly and efficiently.

The service is completely free (unless you instruct us to withdraw) as the tenant pays the costs of enforcement.

Put your rent arrears in safe hands today to recover the money you are owed.

Instruct us to be your agent. Just send us this simple “Submit Commercial Property Assistance Form”.

 

 

Forfeiture of Lease      

You may decide that the tenant is a bad proposal and therefore forfeiture of lease for breach of covenant and the removal of the tenant is the best option. Your lease will surely give you the option to forfeit the lease and regain the property in situations of failure to pay rent and/or service charges.

In commercial lease forfeiture,  our usual situation is to attend the property in the early mornings with a locksmith, gain entry, survey the property, take a snapshot of the inventory of assets and act as a 3rd party. Therefore, we can state what the property was like and what assets were within at the time of our entry. This is part of the protection offered against any possible action by the debtor.

We serve notices and display the status on all points of entry and egress.

Under this action, the tenants would have rights to remove their own assets and either you or we can organise door-staff to ensure that the property is safe while the creditor arrives to remove assets.

Instruct us to be your agent by just sending us this simple “Submit Commercial Property Assistance Form”.

 

 

Commercial Rent Arrears Recovery (CRAR) vs. Forfeiture of Lease - Considerations  

When considering whether to instigate Commercial Rent Arrears Recovery (CRAR) action or immediate forfeiture of lease, some consideration must be given to certain factors.

Where a Forfeiture of Lease is executed, bear in mind that Business Rates will fall back to your responsibility once the forfeiture has taken place. So, in some cases, Commercial Rent Arrears Recovery (CRAR)  may be a better option to safeguard against further expense.

Commercial Rent Arrears Recovery (CRAR) can also be used to safeguard your tenant’s position against other aggressive debt-collection companies. For example, where the Business Rates or other debts have been left unpaid by your tenant and the creditors have managed to obtain Court Orders and Bailiff Instructions, if you have already secured a Writ of Control over the assets of your debtor, no other Enforcement Officer can do the same until your debt has been settled. So, no other Enforcement Officer can foreclose business for your tenant as full control is in your hands ie. the control of the landlord. 

We are experienced in offering Commercial Property Assistance for various situations. After discussion and our assessment of each situation, we are able to recommend the best route to take.  Instruct us to be your agent by just sending us this simple “Submit Commercial Property Assistance Form”.