No landlord wants to find themselves in a position where a tenant who has recently entered into a ten-year lease with an option to renew for five years, becomes insolvent. However, there is always a risk a tenant will become insolvent during the term of a lease. As a landlord, you need to be aware of your rights if this occurs. What should you do if you discover that one of your tenants is insolvent?
How can you gain access?
Often the first question a landlord has when a tenant goes insolvent is: How can I gain access to the premises? The answer depends upon whether the tenant is in administration or liquidation.
Liquidation occurs where a company is unable to pay its de…