Are you a commercial landlord struggling with a tenant who has not paid rent or is breaching lease agreements and seeking commercial repossession? If so, you may be dealing with the process of commercial repossession.
Forfeiture of a Commercial Lease – A Powerful Tool for Landlords:
Forfeiture of a Commercial Lease refers to the termination of a lease agreement between a landlord and tenant due to a breach of the terms of the lease, which could lead to commercial repossession. This breach can either be non-payment of commercial rent or a violation of one of the tenant’s covenants in the lease, prompting the need for commercial repossession. This powerful tool is available to landlords dealing with problematic tenants who may be facing commercial repossession.
The terms of the lease will almost always grant the landlord and their agents the power to forfeit the lease, sometimes referred to as repossession, and achieve commercial repossession. To take this action, a process known as Peaceable Re-Entry must be carried out for commercial repossession.
Forfeiture for Non-payment of Commercial Rent:
In cases of non-payment of rent, the landlord will have the right to forfeit the lease by instructing enforcement agents to attend the property and take possession back under the terms of that lease, facilitating commercial repossession. This is the simpler of the two options for achieving commercial repossession. You can instruct us by filling out our Forfeiture instruction form and providing us with a copy of the lease and the amount of unpaid rent. Once instructed, we handle the entire process from start to finish and can assist with commercial repossession. Strikes can then begin Debt Recovery action against the ex-tenant for the outstanding arrears and costs, helping with commercial repossession.
Forfeiture for Breach of Covenant:
In the case of a breach of covenant, a Section 146 Notice comes into play, initiating the process of commercial repossession:
A Section 146 notice is a formal notice that a landlord can serve on their tenant under Section 146 of the Law of Property Act 1925. It informs the tenant that the landlord intends to take legal action to terminate the lease and repossess the property because the tenant has breached the terms of the lease, potentially leading to commercial repossession.
The notice must specify the breach of the lease that the landlord is relying on and give the tenant a reasonable time to remedy the breach. If the tenant fails to remedy the breach within the specified time, the landlord can then take legal action to regain possession of the property, thus achieving commercial repossession.
Examples of breaches that could result in a Section 146 notice include:
– Failure to pay rent
– Damage to the property
– Breach of repair or maintenance obligations
– Illegal or immoral use of the property
Non-payment of Service Charges or other charges under the terms of the lease, potentially necessitating commercial repossession.
If you’re a landlord considering serving a Section 146 notice and seeking commercial repossession, it’s important to seek advice from us first. The process can be complex, and there are strict requirements that must be followed to ensure the notice is valid and the legal action is successful for commercial repossession.
If you already have a Section 146 and need it serving, Strikes Enforcement Services can serve your Section 146 Notice from as little as £75.00 plus VAT* – call us today to discuss or for further information regarding commercial repossession.
If you require the full service of the Section 146, including the review of the lease, development of the notice, and service, prices start from £750.00 plus VAT to facilitate commercial repossession.
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What We Do:
Forfeiture of Lease from £300.00 plus VAT.
Section 146 Notices.
Non-Payment of Rent Forfeiture.
Breach of Lease Forfeiture.
Trace Investigations on Gone Away.
Enforcement Proceedings – Process Serving CCJs, Writ of Control.
Commercial Debt Collection for Business to Business Debt Recovery – unpaid invoices.