Code of Conduct between Landlords and Tenants for Commercial Rents
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On 1 October 2020 The Department of Business, Enterprise and Innovation has published a Code of Conduct (the Code) intended to promote and reinforce good practise in landlord and tenant relationships as they deal with the financial impact caused by the pandemic.
It should be noted that this Code is voluntary and has no statutory basis, and therefore, does not change any commercial lease contracts or legal relationship between landlord and tenant. The aim of the Code is to facilitate discussions between both parties in recognition of the difficulties caused by COVID – 19.
The Code notes it is in everybody's interest that terms be amicably agreed. As the relationship between landlord and tenant is a legal matter however, parties may wish to seek legal advice when deciding new arrangements.
The Code sets out some options for new arrangements that parties could agree to but notes that these options are intended as suggestions and there is no obligation to adopt them. For guidance on this please refer to paragraph 23 of the Code.
This Code was published in response to the impact of COVID-19 on businesses so will remain in place until 31 July 2021, however the Department of Business, Enterprise and Innovation will keep this under review to determine whether an extension or replacement is needed.
The Code of Conduct between Landlords and Tenants for Commercial Rents is available here.
The Department of Business, Enterprise and Innovation has also published Code of Conduct FAQs. Click here to view. :
If you require any advice on the above please contact Breen Purcell or Paddy Smyth in our Real Estate Department.
Written by Paddy Smyth and Jessica Taggart.
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