Decision details

To approve a revised rent policy for tenants of non-residential Council properties, which includes a continued approach to suspend or defer rents for those tenants.

At the end of March, a revised rent policy was approved by the Incident Management Group for an initial period up until 30^th June 2020. The policy was developed to respond to the needs of the Council's commercial tenants in the current circumstances.  This policy was due for review in June.  A revised rent policy has now been produced taking into consideration the current circumstances and further advice from Government.

The new policy outlines a continued approach to suspend or defer rent for tenants of non-residential Council properties. This means a potential deferral of a significant proportion (estimate 50%) of quarterly rent, mainly focused on Commercial Estate, Parks & Countryside, and Housing Revenue Account. There is a potential overall deferral in the region of £590k for the March and June quarters.