- Category: Rent Monies
- Published: Saturday, 03 December 2016 13:11
The current CRAR (Commercial Rent Arrears Recovery) system came into force in 2014 as a way to collect rent arrears from commercial property tenants, taking over from the previous principle of distain.
Previously a landlord was able to ‘send in the bailiff’ who could then begin noting actual items of the tenant to seize and sell in order to pay the arrears. This was a very crude way of collecting arrears, and although under CRAR there is this still this principle of a commercial landlord being able to seize and sell a tenant’s own items to pay the debt, there are now procedures and time frames involved in order to ensure it isn’t misused.
In terms of understanding how this works out in reality, here are the 10 most important issues...Write comment (0 Comments)