Navigating the new normal

Coronavirus and Real Estate: what do you need to know?


All content on this page is correct as of April 22, 2020

In this week’s roundup, we examine what the evolving coronavirus pandemic could mean for real estate, as well as your own and your organisations property needs. 

Fixed fee packages

As the coronavirus crisis continues to throw up issues for occupiers, landlords and tenants, we’re offering fixed fee packaged services to help.

COVID-19 lease review

We are offering a fixed fee review of your options to terminate or vary your lease so as to give you clarity as to your position over the coming weeks and months. Whether you’re thinking about exercising a break right, seeking to negotiate temporary payment terms with your landlord, or you are concerned about your landlord serving notice on you, we are here to advise on your best course of action. Click here to find out more how we could help you.

COVID-19 rent concession guidance and draft agreement

We have also put together a fixed fee review for both landlords and tenants on the points to be covered in negotiations and a draft of the agreement containing agreed terms. Whether you are a landlord or a tenant you are likely to be considering a request for a rent concession, and such negotiations are not without difficulty and could be contentious. However, by working together landlords and tenants can achieve the best results and maintain their relationship going forward. Click here to find out more on how we could help guide you through this process.


Webinars

The Bates Wells Real Estate team have been hosting various webinars over the last few weeks, giving listeners handy tips for managing their property during the coronavirus crisis. If you missed out on these live webinars, then not to worry, you can listen to the recordings at anytime that works for you! Take a look below at the team’s latest webinars.

Coronavirus Act: what are the implications for landlords and tenants?

This one and a half hour webinar will take you through the various property issues for charities arising from the coronavirus crisis, including landlord and tenant matters, implications of the Coronovirus Act 2020, rent-freezes, break clauses, business rates and matters relating to residential properties. This webinar would be especially useful for both landlords and tenants, property owning charities or organisations, charities and organisations with office premises and charities and organisations deriving income from property sales from legacies. Click here to access the full recording and slides.

Managing through the COVID-19 crisis

Our Impact Economy team recently held this hour and a half webinar with the aim of supporting impact driven organisations through this challenging time. Along with others from across the firm, Karli Hiscock and William Scott gave an update on how to create options with your real estate. They discussed looking at using your space as an income generating asset, negotiating rent holidays, the latest on the forfeiture moratorium, and more. Click here to access the full recording and slides.


Coronavirus Act 2020 and commercial property

As part of the government’s response to the coronavirus pandemic new extensive laws passed through Parliament last month (25th March) providing wide-ranging measures to help deal with the impact of the virus. We recently provided an update on this Act and pointed out some items tenants should be thinking about when deciding whether or not to pay their rent. Click here to read the full article.


Residential property and landlords and tenants

This is a testing time for landlords and tenants alike, and so the government announced that there will be emergency legislation implemented to try and alleviate some of the pressure on those landlords and tenants affected by coronavirus. We provided an update on these changes, including landlords being unable to start eviction proceedings for at least the next three months, and mortgage holidays. In case you missed it, you can read the full update here.


Stay in the know

To stay up to date with all our latest updates, take a look at our Coronavirus Insights Hub.


This information is necessarily of a general nature and doesn’t constitute legal advice. This is not a substitute for formal legal advice, given in the context of full information under an engagement with Bates Wells.

All content on this page is correct as of April 22, 2020.

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