Renting your business premises? If you have a modern lease your rent should be reduced during the COVID-19 Lockdown.
Clause 27.5 of the ADLS Deed of Lease provides that if there is an emergency and the Tenant is unable to gain access to fully conduct business because of reasons of safety of the public or the need to overcome a hazard, then a fair proportion of the rent and outgoings shall cease to be payable for the period commencing on the date when the Tenant became unable to gain access to the premises to fully conduct the Tenant’s business from the premises until the inability ceases. This doesn’t mean your rent is reduced to zero, so you will need to discuss with your landlord what a ‘fair proportion’ will be, keeping in mind that you are still using the premises as a place of storage and security, and often housing working servers and the like.
If you’re not sure how this affects you – get in touch with one of the iCLAW team.