The key priority for a landlord of commercial property is to secure a reliable and predictable rental income, which can be reviewed at regular intervals so that it keeps pace with other properties in the market. Traditionally, commercial tenants have paid rent in advance in four quarterly instalments, with rent reviews every three to five years. Covid-19 has placed increasing financial pressure on business tenants, and many are asking landlords to help cash flow by considering alternative ways to structure the rent.
‘The way businesses occupy property is having to change, so the way landlords charge rent needs to change as well’ says Andrew Little, Commercial Property Solicitor with Pearsons & Ward in Malton, ‘Landlords need tenants in their properties, paying rent, so it is in everyone’s interest to structure the rent in a way that…