The government has confirmed that the rent moratorium protecting commercial tenants from eviction for not paying rent, introduced last year in response to the pandemic, will continue until 25 March 2022.
MP Steve Barclay, chief secretary to the Treasury, delivered an economy update in the House of Commons this afternoon, confirming the moratorium extension. In the event of commercial negotiations between tenants being unsuccessful, tenants and landlords will enter binding arbitration.
He said: “All tenants should start to pay rent again in accordance with the terms of their lease or as otherwise agreed with their landlord as soon as restrictions are removed on their sector if they are not already doing so. We believe this strikes the right balance between protecting landlords and supporting those businesses that are most in need.”
Kate Nicholls, UKHospitality chief executive, welcomed the measures and said the legislation will “form a strong bedrock for negotiated and fair settlements that can help heal the damage that the pandemic has wrought”.