Commercial rent code of practice creates arbitration system

The Department for Levelling Up, Housing and Communities and the Department for Business, Energy and Industrial Strategy have published the revised Commercial Rent Code of Practice.   The Government says it hopes that this will help “tenants still reeling from the effects of the pandemic to confront their debts, come to an agreement with their landlord on rent arrears and start to grow their business again” by ringfencing rent arrears and creating a “binding arbitration system” to deal with those debts.