COVID-19: rent concession letter (turnover rent) | Practical Law

COVID-19: rent concession letter (turnover rent) | Practical Law

A letter from a landlord to a tenant under a turnover rent lease recording the landlord's agreement to suspend or reduce the base rent and on account payments of turnover rent due under the lease. The letter is intended to record a temporary waiver; not to permanently vary the lease. It has been drafted with the 2019 novel coronavirus disease (COVID-19) pandemic in mind and so it includes a waiver of any keep open covenant.

COVID-19: rent concession letter (turnover rent)

Practical Law UK Standard Document w-025-1742 (Approx. 25 pages)

COVID-19: rent concession letter (turnover rent)

Maintained, England, Wales
A letter from a landlord to a tenant under a turnover rent lease recording the landlord's agreement to suspend or reduce the base rent and on account payments of turnover rent due under the lease. The letter is intended to record a temporary waiver; not to permanently vary the lease. It has been drafted with the 2019 novel coronavirus disease (COVID-19) pandemic in mind and so it includes a waiver of any keep open covenant.