The Government has outlined plans for a code of practice to support the high street during the COVID-19 pandemic.
The code is set to be temporary but the Government is also considering the potential to make it mandatory should it be deemed necessary.
The Government is working with industry trade bodies, including UKHospitality, the BPF and Revo, to produce the code of conduct which will encourage more open discussions between property owners and landlords over rental payments.
This follows many experts in the retail sector urging the Government to introduce a ‘rent relief’ scheme to help businesses cope with the financial impact of the pandemic, as more businesses are set to be allowed to open from 15 June.
There is a push from those in the retail and commercial property sectors to ensure that communication is transparent, and that businesses that can pay their rent, should pay it, but that by equal measure, those property owners that can provide support, should do so.
Kate Nicholls, Chief Executive of UKHospitality, said: “A code of conduct is a significant step in unlocking the current impasse in the commercial property market. Now is the time for all stakeholders to come to the table and broker an agreement.
“Hospitality businesses have seen revenues all but dry up since March, so Government intervention is desperately needed – with a sustainable financial plan in place.”
The Government has also said that measures such as the Coronavirus Act could be extended, as Robert Jenrick MP, the Communities Secretary, said that the code of conduct will provide ‘clarity and reassurance’ to both occupiers and property owners as the quarterly June rent day grows closer.
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