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Commercial Property News
Commercial property rent 'should be allowed to be paid monthly'
Many commercial property companies have announced support to allow the terms of rent to become more flexible.
Land Securities, British Land and Development Securities are just some of the firms operating in the business property sector that are willing to support tenants with their rent arrangements.
Welcoming the move, the British Retail Consortium (BRC) said landlords should accept rent paid on a monthly basis and it was a "perfectly acceptable" request to make.
Richard Dodd, spokesperson for the BRC, said: "It helps retailers with their cash flow because it is a big demand to expect a retailer to come up with three months rent in advance, as they haven't done any business or sales."
He added that retailers should not be forced to make monthly arrangements, but it should be an option they are allowed to take.
The British Property Federation recently revealed support for monthly rent payments across a number of areas, with landlords in the retail, office and industrial sectors showing their backing of tenants during the economic downturn.
Land Securities, British Land and Development Securities are just some of the firms operating in the business property sector that are willing to support tenants with their rent arrangements.
Welcoming the move, the British Retail Consortium (BRC) said landlords should accept rent paid on a monthly basis and it was a "perfectly acceptable" request to make.
Richard Dodd, spokesperson for the BRC, said: "It helps retailers with their cash flow because it is a big demand to expect a retailer to come up with three months rent in advance, as they haven't done any business or sales."
He added that retailers should not be forced to make monthly arrangements, but it should be an option they are allowed to take.
The British Property Federation recently revealed support for monthly rent payments across a number of areas, with landlords in the retail, office and industrial sectors showing their backing of tenants during the economic downturn.
Mon, 29th Mar 2010