The government is reportedly drawing up plans to extend the current rent moratorium that bans landlords from being able to pursue commercial tenants for unpaid rent or evict them.
According to The Sunday Times, the business department and the Ministry of Housing, Communities and Local Government have been in discussions with the property, hospitality and retail sectors over how best to extend the scheme.
The scheme is due to end at the end of March after it was extended for the second time in December of last year.
The government is also reportedly considering issuing guidance that outlines how landlords and property owners should determine how the outstanding debt arrears are split.
Bill Hughes of the Property Alliance told the Times: “There is every chance the moratorium will be extended.”
He added that it is possible the Government will “distinguish” between hospitality and leisure and retail in the new extension.
The news comes after many landlords owners reported diminishing rent collection in the fourth quarter of the year.
In January, UK landlord Landsec revealed it had only managed to collect just over a third of the rent owed by retailers during the month of December.
In a rent collection update posted by the landlord, Landsec revealed it had received just £5m of the £14m expected from its regional retailers – equal to just 36%.
It also reported that it had received just £2m of £7m expected from its central London businesses.