- How are tenants approaching difficult landlords who are reluctant to accomodate rent relief and what does fair rent relief look like to various retailers?
- Reply To: How are tenants approaching difficult landlords who are reluctant to accomodate rent relief and what does fair rent relief look like to various retailers?
Reply submitted 24/04/20 @ 04:05pm::
Hello, the general consensus from all the business owners I spoken to would reflect that most have landed on a 50% reduction for an initial 3 month period.
Landlords have realised that it will be more secure for themselves to hold onto current tenants for the long term if they suffer a bit of short term pain. If they have tenants falling over it will be extremely hard for them to get new tenants given the foreseeable trading environment. So you are probably in a better negotiating position than you might think.
Also consider where you are in the term of your existing agreement. If you are near the end of the agreement and plan to stay longer use that as part of your negotiation stance. I think you need to clearly spell out your position and paint the picture for them what the future will look like if they lose you. I would further encourage you to seek some legal advice on your lease agreement to understand all your options.
Best of luck.