Our Rent Collection Impact Reports reflect real-time trends for commercial rent payments. We will be regularly releasing reports to enable property professionals to benchmark, as well as providing relevant and accurate insights into the commercial property market during these uncertain and fast-moving times.
Articles and Guides
Masterclass | Owning and Investing in Commercial Property
Seeing the opportunities in a changing property market
Jonathan Wallace | CEO of Wallace Development Company
In his 38 years in property, Jonathan Wallace, CEO of Wallace Development Company has navigated market crashes and changing demands, surviving – and thriving – to complete more than 400 projects. It also manages some 250 tenancies in more than 50 properties made up of industrial, office and residential buildings. Read more ›
Tips from experts and your peers in navigating these times
Work with the technology and get creative. Use the time freed-up by the drop off in some areas of the business to learn new skills and ways of doing things.
Prepare a cash flow, and quickly, be realistic about how much your revenue streams are likely to be effected and looking at them carefully in turn. Your bank will need this to be able to provide any further lending through the Government Guarantee Scheme.
Work smart, use the technology and keep communicating
Communicate, communicate and then do it again. The best way to communicate is to pick up the phone and talk to people and remember we have two ears and one mouth so listen twice as much as you talk. It does not matter if you are talking to the MD of a FTSE 100 or a self employed window cleaner listen and be empathetic, they both have potentially life changing situations. Then see if there is a solution that is good for both parties (landlord and tenant) If there is and it is agreed, or not agreed, follow it upon in writing and make a note on Re-Leased so all your team working from home can see what has been agreed to.
Example: We completed on a lease yesterday, the tenant is due to move in today, but they will not be able to. They need to move out of their existing office tomorrow. Panic set in last night. A couple of calls later and an agreement has been reached.
One more suggestion on communication, maybe tweak the areas letters! We are going to send statements instead.
Re-Leased clients - these templates can be found in the platform