Landlords and businesses must talk, says legal expert
A legal expert is calling on commercial property landlords and tenants to keep communicating in this tough time.
Jamie Allison, partner and head of Real Estate at regional law firm Napthens, revealed that many businesses are reaching out to their landlords to request support during the coronavirus lockdown to discuss issues such as rent holidays or rent deferments.
He is calling on both parties to talk to each other in order to ensure a strong relationship is maintained during the crisis, ready for the situation getting better.
Jamie said: “Now more than ever it’s vital to maintain healthy dialogue between landlords and tenants, and a relationship which between the two will mean they are ready for restrictions on businesses and individuals being eased.
“We know many of our clients, both commercial landlords and their tenants, have negotiated extra time or deferment to pay or have rent reduced in a bid to support each other.
“The focus is often on the big picture. By supporting each other now, once this crisis is over, a middle ground can be reached where both businesses can continue to operate. Tenants want to talk, and landlords will listen, so now is the time to take this step before things become too difficult.
“There is plenty of support out there from the Government for various sectors and businesses, but often a good start is to simply talk to the companies which are closest to you.”
For more information of Napthens’ coronavirus support, visit the website.