Covid-19 - commercial questions
Common questions asked by commercial clients
Are you still offering viewings if the property is empty?
As it is not considered to be 'essential' and for the safety of staff and clients we are not conducting viewings at the moment but we are happy to take your details and we will be in contact as soon as the lockdown is lifted.
If the tenant has vacated and the building is empty can you still inspect and get the property onto the market?
The same situation applies to inspections as to viewings. Inspections are not considered to be 'essential', and for the safety of staff and clients we are not conducting inspections at the moment. We are happy to make arrangements to come out as soon as the lockdown is lifted.
My tenant hasn't paid the 1/4 rent, what are the next steps?
This is a common occurrence, as some tenants' businesses are in lock down, and unable to trade, others are performing an essential service and continuing. Legally the rent and other charges are still due, however, it is important for landlords and tenants to engage in dialogue at the earliest opportunity, and work through a deferral plan for rent or rent holiday during the lockdown. The best aspects of a landlord and tenant relationship will prevail here, i.e. where a tenant has been in occupation and always paid their rent on time, then now is the time for landlords to respect that with short term cash flow planning, conversely the consistent late payers may not find the relationship as strong as they need!
Is my insurance valid if my property is unoccupied but inspections are still taking place?
We strongly recommend that you liaise with your insurer or broker to clarify the requirements for in occupied property.
There is a rent review due in the next 3 months, what do you advise?
Rent reviews are rarely time critical, we recommend, however, that these are agreed and documented in the usual way, but it is important to respect that many businesses will have more pressing matters at present than agreeing a revised rent.
I have a lease / sale due to complete during the current movement restrictions. Are you able to arrange handover of keys to the tenant / purchasers?
Practising social distancing and taking all necessary precautions we can arrange for keys Arnolds Keys hold to be released to new tenants/purchasers.
Are people still viewing my property online and requesting information?
Yes. From our online portal data properties are still getting views and we are still getting enquiries. Perhaps understandably, there has been a drop in traffic; leasehold properties have seen a greater dip than freehold enquiries and we are monitoring the activity closely.