Bad Reasons for Rent Arrears?

We are all familiar with the usual excuse for non-payment of rent on time; whether it be the time honoured – “The cheque’s in the post“ or ”My accountant’s on holiday”.

Previous Quarters however, has seen several landlords, (and even some managing agents) taken in by another old chestnut – the so-called 14 or 21 Day Rule.

Most commercial leases state that in the event of non-payment of rent, a period of 14-21 days must elapse before the landlord can forfeit the lease and peaceably re-enter the property.

Wily tenants “interpret” these provisions to mean they have 14-21 days grace in which to pay the rent due. An obvious nonsense, but one which is proving all too successful in many cases. However, after midnight of the rent being due the landlords are entitled to distrain on goods for the rent arrears due.

For more information relating to the above, please contact Jon Dawkins or Gerry Phillips on our Hotline: 020 8661 0210

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