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01/04/2009
Quarterly rent bills 'causing problems' for retailers |
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The practice of charging quarterly rental bills to those occupying commercial property has caused significant difficulties for retailers, it has been stated.
Property economist at Capital Economics Ed Stansfield suggested that this is something those renting out such property should reconsider, noting that some appear to have already introduced more flexible payment schemes.
Stating that the retail segment of the economy has endured "a pretty tough" period, he remarked: "One of [the] things that the margins will [be] helped [by] is a more flexible arrangement on rent payments."
It will not help landlords if firms go bust due to rental demands and leave them with empty space, Mr Stansfield advised.
The comments come after a recent call from the British Retail Consortium for more flexible payment arrangements.
It urged landlords to demonstrate a "willingness" to switch to monthly terms to help tenants with cashflow issues.
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