MEES Regulations - Impending Deadline 1st April 2020

The 1 April 2020 marked a change in the Energy Efficiency (Private Rented Property) (England and Wales) Regulations 2015 (MEES Regulations). This change will have a direct effect on landlords of residential properties with potential financial penalties and subsequent reputational damage.

We will consider the changes for residential landlords below while keeping one eye on the changes forthcoming for landlords of commercial properties.

New COVID-19 Delay Clause for Agreements for Lease

COVID-19 is having a huge impact on our daily lives as well as our businesses and, in particular, those who want to grant or take leases of commercial properties (including those who have already exchanged contracts on these types of transactions) are unquestionably anxious about the potential consequences of COVID-19 related delays.

During these unprecedented times, the legal market is endeavouring to adapt and change to this new climate.

Forbes Solicitors and our clients welcome the Housing Secretary's plan to re-start the housing market

An unveiling of a package of measures to kick-start the housing market during the current crisis will go a long way to help property developers and personal conveyancing clients of Forbes.

The Ministry of Housing, Communities and Local Government has published measures to assist the market.

Property: Latent Defects

The past 12 months have thrown up uncertainties in the structural defect insurance market, with the collapse of Danish insurance broker Alpha Insurance. This has had an impact in respect of both residential and commercial new build properties. In light of this, it is worth considering the repairing liability which landlords and tenants (respectively) face when entering into a lease of a newly-built property.

Thinking of selling a Property at auction? Do not underestimate the importance of an effective auction pack

Selling a property at auction can provide a number of benefits including:

A quicker process than standard market selling;

• The property can potentially reach an increased audience through the auction house's marketing, potentially resulting in greater buyer interest than standard market selling; and
• It provides you with the certainty of a sale as the deposit is secured and exchange of contracts takes place on the same day as the auction.

The Importance of Rent Concessions in light of the COVID-19 Pandemic

Covid-19 has generated financial uncertainty across the economy. Consequently, tenants are more frequently approaching landlords to request rent reductions, rent free periods, and to alter rent payment dates in an attempt to share the financial risk and cashflow impact.

The Effect of COVID-19 on Commercial Property

A few years ago, US Secretary of State Donald Rumsfeld, made a statement about unknown knowns and known unknowns, which is an example of the struggle of trying to articulate uncertainty into a decision-making process. In recent weeks, clients and property lawyers have been attempting to distinguish the known/unknowns caused by COVID-19 whilst trying to provide some new definitions and certainty into agreements.

How can I buy a property owned by a company?

The most obvious answer is to simply buy the property, as a company asset, from the company. But there is another option - to buy the company itself! Whilst this may not be the immediately obvious choice, there can be benefits to this - but each option needs to be considered on its merits.

Purchasing a property at auction? Forbes can give you that added peace of mind with our pre-auction pack review

Despite the challenges faced as a result of the lockdown measures introduced on 23rd March, auction house Pugh have proven that it is still very much possible to buy and sell property even with social distancing measures in place. They have effectively moved all their auction room sales to online sales and have reported a £5m sales performance in their April property auctions, having sold 51 lots. Pugh provide a good example of how certain businesses can adapt to operate successfully, albeit with social distancing measures in place

The importance of an anti-fraud restriction in light of the current climate

The coronavirus pandemic has seen a surge in coronavirus-related scams. With fraudsters exploiting Covid-19 fears, now more than ever is the time to ensure that your property is adequately protected against property fraud.

Leases: Service charges - who is footing the bill for re-opening shared buildings?

As the government eases lockdown restrictions and shops and offices begin to re-open, tenants will naturally be considering what their landlords are doing to ensure that multi-let buildings are safe for them, their employees, customers and visitors to return to. Conversely, landlords will be considering what their new obligations to their tenants will be. Both will no doubt be considering how the additional costs of any new services will be paid for.