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If you’re a landlord, serious rent arrears can prove inconvenient and annoying, reducing your ability to pay bills and to invest in growth. There are mechanisms to recover rent arrears, but these are different depending on whether the rental is for domestic or commercial purposes. If you need to recover commercial rent arrears, the mechanism is the Commercial Rent Arrears Recovery scheme — CRAR for short. What Is CRA

SMEs may need to access finance for various reasons. Perhaps they have plans for growth requiring money up front, or maybe there’s a delay in their cashflow — a particular problem in recent years, as the scourge of late payments has grown worse. Recent figures, from various sources, have shown both good and bad news about financing small businesses. A Third of SMEs Need Finance to Survive The most alarming figu

The Federation of Small Businesses reported that, for the 4th quarter of 2023, 40% of small businesses reported a fall in revenue, and confidence had also plummeted. Which makes it more surprising that, according to research by three separate organisations, optimism is high among small businesses for 2024. Expectations for Growth in Turnover In a recent poll by lender Iwoca, 47% of small businesses were expecting an

The Ministry of Justice (MoJ) has just released the official figures for landlord repossessions during the period October to December 2022 — and they’re alarming. The number of repossessions in that time has risen by 98%. So why is this? And how can you avoid having to go through the costly and time-consuming procedure of getting your property back? The Rise in Repossessions The MoJ figures make alarming reading. Dur

During the Covid lockdown, many businesses unable to trade or use their premises fell into arrears with their commercial rent. Although businesses are generally up and running again, many have found difficulties in catching up with these arrears. This has obviously also impacted on landlords’ finances, but the government’s Commercial Rent (Coronavirus) Act 2022, which came into force on 24th March, has se

If a company that owes you money has debts so extreme that there’s no possibility of payment, you can apply to the courts to have it wound up. This is a drastic measure and usually a final one — once the winding-up order is granted, it normally means the company is finished. Exceptionally, however, you might change your mind. It’s possible to apply to have the order rescinded, but the process is complicat

If you take out a writ of control against someone who owes you money, there are currently extra hurdles to get over. Besides backlogs in the court system, in some cases, bailiffs won’t be able to enter the debtor’s property. However, it’s still possible to effectively enforce a writ. You just have to be careful that you get everything right. In What Order Are Writs Dealt With? There’s an old c

A legal expert for ARLA Propertymark has said letting agents and landlords should consider serving a second Section 8 notice if rental arrears accrue to more than six months of missed payments, even if their original Section 8 has yet to come into force. This is because of a crucial change at the six months of arrears mark, when the notice period for tenants drops from six months to just four weeks. Robert Bolwell a

As you’re no doubt aware, in March the government brought in measures effectively preventing landlords from evicting tenants during the coronavirus lockdown. This was originally intended to run until this month, but the government has now extended the moratorium on evictions until 23rd August 2020. What Does This Mean for Me? One expected announcement that hasn’t materialised is that tenants would be gran

The cost of recovering debts through High Court Enforcement can be substantial — although considerably less than writing off the debt. However, there’s general confusion about one element — VAT. Should it be paid by the creditor, the debtor or not at all? Why Would You Use High Court Enforcement Officers? If you’ve received a court judgement in your favour for a debt that you’re owed but the debtor doesn’t immediatel