The Canada Emergency Commercial Rent Assistance (“CECRA“) program expired on January 31, 2021,1 and the moratorium on eviction and distress rights of landlords against commercial tenants under the program along with it. However, the Canada Emergency Rent Subsidy (“CERS“) program, enacted under Bill 229 on December 17, 2020, O Reg 763/202 also includes such a moratorium. A summary of CERS and the current moratorium is contained below:
NON-DOMESTIC RATES RELIEF TO ALLEVIATE THE IMPACT OF COVID-19 ON BUSINESSES
Non-domestic rates, also called business rates, are taxes paid on non-domestic properties to help pay for local council services. Non-domestic rates are based on the Rateable Value of a Premises. The Rateable Value is determined by the Scottish Assessors, who are an independent body.
Each year in the budget the Scottish Government sets the tax rate along with any reliefs that may be available. Read more…
THE IMPACT OF COVID-19 ON MISSIVES
Everyone and every sector has been impacted by COVID-19 and the property market has been no exception. Whilst in the first lockdown which started on 23 March 2020, the property market stopped, that has not been the case in this second lockdown that we are all currently facing.
Unlike the first lockdown, the property market is still moving, the Registers of Scotland have kept the application register open for registering new title and interest in property in the Land Register and so transactions can still complete. Read more…
THE COMMERCIAL LANDLORD IN A PANDEMIC: WHAT TO DO ABOUT LEASE ARREARS
It will come as no surprise to hear that a large number of commercial landlords are becoming increasingly concerned about accruing or ongoing arears which have arisen (or been exacerbated) by tenants struggling in the current commercial climate.
The government has introduced legislation which has an impact on this [The Coronavirus (Scotland) Act 2020 (“the Coronavirus Act”)] and have also released some guidelines seeking to address and recognise the inevitable conflict that has arisen between landlords and tenants [The Code of Practice for Landlords and Tenants of Commercial Property (“the Code”)]. The requirements of the Act are mandatory, whereas the Code is advisory. Read more…
THE RULE OF 14 WHEN TENANTS FALL BEHIND WITH RENT
For many businesses and sectors, 30th September 2020 was supposed to be the end date of the plethora of legislative changes brought into force by the Coronavirus (Scotland) Act 2020. However, as a result of secondary legislation, the Coronavirus (Scotland) Acts (Amendment of Expiry Dates) Regulations 2020, means the expiry date of 30th September has been extended to 31st March 2021.
For commercial landlords, this means the continuation of a 14 week minimum notice period before being able to evict tenants for non-payment of rent or other sums due. Previously, the minimum notice period was 14 days. So what does this mean for businesses operating as landlords? Read the full blog.