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Covid-19: Property industry and insurers must grapple with pandemic risk

Covid-19 has meant shuttering multiple business premises across the State. Yet tenants must continue to pay their rent and landlords must continue to service their borrowings. Real estate lawyers in common law jurisdictions have quickly reached a broad consensus around the legal realities of this situation.

First, tenants are unlikely to be able to walk away from their lease obligations. Most leases have no “force majeure” provisions and the shutdown is unlikely to amount to “frustration” (a view supported by a Hong Kong case arising from the 2002 Sars [Severe acute respiratory syndrome] outbreak). Second, landlords and tenants will find that the standard definition of “insured risks” for buildings insurance is of no assistance. Policies are typically concerned only with losses arising from physical damage and so even “loss of rent” cover is of no use.

Read the full details in the Irish Times

If it’s a Structural Survey Report (Building Survey Report, House Survey Report, Home Survey  Report, Property Survey Report,) Condition Survey, Commercial Survey or Land Survey, ABL Surveyors are a firm of Chartered Building Surveyors with vast experience who will provide a professional, cost effective and efficient service to all our clients. Each inspection is carried out by a Chartered Building Surveyor (Building Surveyor, Home Surveyor, House Surveyor, Property Surveyor, or Land Surveyor) who has vast experience in their relevant field of Surveying.

We have offices in Navan, Dundalk and Dublin and also cover the surrounding counties and will travel nationwide if required.

ABL Surveyors are a member of the Society of Chartered Surveyors
Ireland and holds full professional indemnity insurance cover.

In the event that you require any of these services, ABL Surveyors are the right choice for you so please contact us for a quote

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