The basics of forfeiture explained
It is hardly surprising that in today’s economic climate some tenants are struggling to meet their rental payments. This often leaves landlords in a difficult situation, unsure of their rights and keen to secure an ongoing rental income. This article examines one of the remedies available to landlords in such circumstances: the right of forfeiture.
Establishing and enforcing this right is not often straightforward and therefore this article will examine situations in which the right of forfeiture most commonly arises, the importance of preserving this right and issues to be aware of regarding enforcement.
The ability to forfeit enables a landlord to re-enter their property following a breach by the tenant, and by doing so terminate the lease. Depending upon the reason for forfeiture, termination can take place with immediate effect, or following a period of notice. In order to be able to forfeit a lease, a landlord will firstly need to establish the basis of their right to do so…
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