Commercial Rent Arrears Recovery (CRAR)
On 6th April 2014 the landlord recovery of rent arrears distress was abolished for commercial properties and was replaced with a new statutory regime for Commercial Rent Arrears Recovery (CRAR).
Revive Asset can help assist you to follow the CRAR’s complex processes
The requirement to serve prior notice to tenants before the goods are seized can cause real headaches for landlords. this is because the notice period gives the tenant’s time to remove goods from the premises.
Let us help you with some of the facts:
Only Principal Rent, VAT and Interest can be recovered.
You cannot recover: Services Charges, Insurance Premiums and Rates etc.
Inclusive rent (has service charge included) CRAR will only “reasonably attribute” to possession and use of premises.
Only goods that are owned by the tenant can be seized.