Commercial Rent Arrears Recovery
The Commercial Rent Arrears Recovery process, or “CRAR”, entitles a marketable Landlord to seize effects belonging to their Tenant in order to satisfy any rent arrears owed.This option is available furnishing over 7 days of rent is owed and a formal 7 day notice has been served upon the Tenant. Farther notices will also need to be served as and when the process progresses, similar as ifre-entry is needed.Whilst the trouble of effects being seized could be a quick and effective in flushing out payment from the tenant, pursuing this option does help a Landlord pursuing their rights of penalty and in some circumstances, damage of the Landlord’s notice could give rise to the Tenant removing effects from the demesne within the 7 day period to avoid seizure. Thought should thus be given to the pitfalls and counteraccusations of pursuing this option before any notices are served. ForfeitureStill, the Landlord has the right to peaceably re-up the property, If a marketable Tenant has traduced the covenants contained within the Lease. This right is known as penalty.The vittles for penalty will generally be outlined within the terms of the Lease and...