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COVID-19 Exclusive Roundtable

Re-Leased 07 May 2020

Since COVID-19 hit, Re-Leased has been trying our best to provide our clients and partners with the tools they need to keep businesses running through these difficult times. A lot of you have been asking questions on things like rent abatement and government programs. We figure who best to discuss the biggest challenges and how to solve them than our own network of commercial property landlords and managers who’ve been solving them successfully. That’s why we’ve introduced a series of virtual roundtables for executives, property owners, and property managers to help facilitate open discussion for peers from different organizations.

Re-Leased created this series of exclusive roundtable discussions around the world to discuss all pressing matters impacting your business and explore potential solutions. We’ve kept these Zoom meetings at under 10 attendees to provide an intimate setting to ask questions, share ideas, and meet industry peers. With conferences and tradeshows cancelled or postponed till later in the year, these conversations have provided a mechanism of gathering ideas and opportunities not available while running your business day-to-day during this stressful time. Some of the topics that have been discussed are:

Rent relief:

This has been the hottest topic across all the roundtable discussions we’ve held. Some of the most common points: when to offer rent relief, what the details of those programs look like (deferment, partial payments, etc), and how to ensure that your tenants actually need rent abatement and aren’t just taking advantage of the situation.

Tenant communication:

Across all of our roundtables open and frequent communication was a hot topic. There’s a common misconception that property owners have the capital/margins to “weather the storm” when it comes to rent not being paid. Communication both ways, and oftentimes opening your books, is essential to making sure the owner has an understanding of what their tenants are going through and that the tenant has the same understanding of how the property owner is operating.

Managing cash flow:

Some of the points touched on in these roundtables are how to manage your business to maximize cash flow and working with banks to come up with relief plans regarding mortgage payments. Some points that have been mentioned - service charges being very important to cash flow, sometimes even more so than rent collection; pushing non-essential maintenance tasks; and accepting partial rent payments.

Government relief:

We’ve held roundtable discussions in the US, UK, Australia and New Zealand - all of which have had very different government responses to COVID-19 - we discussed them all. In some cases, firms have directly assisted their tenants in applying for government relief but in other regions some firms find government assistance to be lacking, especially when it comes to backing property managers in regards to rent collection.

If you’re interested in attending our next round of executive roundtables, please reach out to your local Re-Leased office or hit the link below:

 

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