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Commercial rents during Covid

  • 09-07-2020 11:28pm
    #1
    ZENER
    Registered Users Posts: 6,163 ✭✭✭


    Forgive me if this isn't the correct place for this.

    I'm aware that the banks will allow landlords some leeway with repayments where their tenants are affected by the Covid 19 situation and are out of work.

    What about commercial rents though ? What if you're the landlord of a small commercial property that's let out and that shop had to close as a result of the lockdown ? You can't expect a small shop owner to pay their rent if they have nothing coming in and that's fair enough. But when they open back up are they expected to pay the arrears or does the landlord just have to suck it up ?

    The bank may give some assistance by allowing a mortgage break for the duration but ultimately the landlord still has to pay the mortgage arrears. Is there a grant for the tenant in this situation to pay the landlord the arrears ? Or is the startup grant offered to small businesses by the government meant to be partly for this purpose ?

    A friend has such a small property in Meath that's let out to a hairdresser. She was told at the start of the lockdown by the hairdresser that he would be unable to pay the rent without any income. They're open again now and will hopefully commence paying their rent but what about the arrears ?

    Sorry for the long winded post. I checked online on dbei.gov.ie but there's no mention of this situation.

    Thanks

    Ken


Comments

  • #2
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    There is no support for landlords commercial or residential in relation to rents.

    The relationship with the tenant is governed by the lease. It’s up to every landlord and tenant to come to anal agreement in relation to the rent. Some have given rent free periods, some have agreed reduction in rent etc. Ultimately it depends on the relationship with the tenant. There’s nothing to be gained from pursing it. You can look at the break clause or next rent review clause under the lease. Be thankful that it is a hairdresser and that they are now back to normal business and can pay the contracted rent going forward, lot of business are not in that position.


  • #3
    timetogo1
    Registered Users Posts: 844 ✭✭✭timetogo1


    Baby01032012 wrote: »
    There is no support for landlords commercial or residential in relation to rents.

    The relationship with the tenant is governed by the lease. It’s up to every landlord and tenant to come to anal agreement in relation to the rent. Some have given rent free periods, some have agreed reduction in rent etc. Ultimately it depends on the relationship with the tenant. There’s nothing to be gained from pursing it. You can look at the break clause or next rent review clause under the lease. Be thankful that it is a hairdresser and that they are now back to normal business and can pay the contracted rent going forward, lot of business are not in that position.

    Best typo ever.
    (I hope it's a typo)


  • #4
    Baby01032012
    Registered Users Posts: 1,622 ✭✭✭Baby01032012


    timetogo1 wrote: »
    Best typo ever.
    (I hope it's a typo)

    Haha just reread my post, I needed that laugh 😂

    No idea how I wrote that. Anyway back on topic I hope other posters can help the OP rather than take pleasure from my typos 😂


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