How to ask your landlord for a rent cut

[James Baggott 227]

You guys asked for some advice on this. We've devised this with Lawgistics and there's a template letter to send following the link in the piece

https://cardealermagazine.co.uk/publish/ask-landlord-rent-cut/189489

[Mojo121 229]

Appreciate the guidance but it's hard to conceive how many would be in the situation of not being able to afford rent already, it's been what? A few weeks?

For example: We are paying as long as we find it fair, this month is paid, next month will more than likely be paid but after that we will have conversations. It's not that we can't afford it, it's just why pay rent for something we can't use when my LL is mortgage free? It's not his fault - he worked hard to pay off his mortgage, it's not ours - we can't trade, but fairness has to prevail. How that looks will be different in every situation and probably to each individual party.

Just hopeful for a quick end to this... I don't know about everyone else but I feel like I've ended up on the wrong timeline/ parallel universe! 

[BHM 994]

1 minute ago, Mojo121 said:

Appreciate the guidance but it's hard to conceive how many would be in the situation of not being able to afford rent already, it's been what? A few weeks?

A pisstakers charter. I’d hate to be a landlord in the current climate, everyone wants to give them a kicking.

[New year revolutions...... 197]

9 minutes ago, BHM said:

A pisstakers charter. I’d hate to be a landlord in the current climate, everyone wants to give them a kicking.

13 minutes ago, Mojo121 said:

Appreciate the guidance but it's hard to conceive how many would be in the situation of not being able to afford rent already, it's been what? A few weeks?

For example: We are paying as long as we find it fair, this month is paid, next month will more than likely be paid but after that we will have conversations. It's not that we can't afford it, it's just why pay rent for something we can't use when my LL is mortgage free? It's not his fault - he worked hard to pay off his mortgage, it's not ours - we can't trade, but fairness has to prevail. How that looks will be different in every situation and probably to each individual party.

Just hopeful for a quick end to this... I don't know about everyone else but I feel like I've ended up on the wrong timeline/ parallel universe! 

You guys

You are not looking at the long term picture you really aren't 

I'm closed,been told to by the govt told its 3 weeks

I said in feb this situation was getting worse but was dismissed as a doom monger even though I have been given good in depth advice by people in positions of trust

We Are NOT going back to work soon so you have to take a pragmatic look into the future

I've got plant going rusty

I've got vehicles storing up problems in modules because of un usage

I've got batteries to fail

I've got overheads at work and at home

I've had and got security issues at work with vandals thieves and others and so far even though they have been logged on 101 I have had nothing from the police,  zilch nothing

This is week 2 only starting on week 3

We are looking if we are lucky at a small july start,the worst time in the calendar for motor traders

My insurance is ticking away unused but fully paid for just 4 weeks ago

Why should I not now be looking for help from all my suppliers including my landlord for some help however small

Trust me my letter has gone

I want to open my business with the minimum of debt

Thanks for reading

 

[trade vet 702]

18 minutes ago, New year revolutions...... said:

You guys

You are not looking at the long term picture you really aren't 

I'm closed,been told to by the govt told its 3 weeks

I said in feb this situation was getting worse but was dismissed as a doom monger even though I have been given good in depth advice by people in positions of trust

We Are NOT going back to work soon so you have to take a pragmatic look into the future

I've got plant going rusty

I've got vehicles storing up problems in modules because of un usage

I've got batteries to fail

I've got overheads at work and at home

I've had and got security issues at work with vandals thieves and others and so far even though they have been logged on 101 I have had nothing from the police,  zilch nothing

This is week 2 only starting on week 3

We are looking if we are lucky at a small july start,the worst time in the calendar for motor traders

My insurance is ticking away unused but fully paid for just 4 weeks ago

Why should I not now be looking for help from all my suppliers including my landlord for some help however small

Trust me my letter has gone

I want to open my business with the minimum of debt

Thanks for reading

 

I agree.Landlords have a lot less to worry about than tenants.All you have to do is follow Lawgistics above advice.As a landlord I can say that good tenants are hard to comebye.On the other hand,I can think of one big commercial landlord who will have no qualms about looking to profit from the current situation.

[Mojo121 229]

25 minutes ago, New year revolutions...... said:

You guys

You are not looking at the long term picture you really aren't 

I'm closed,been told to by the govt told its 3 weeks

I said in feb this situation was getting worse but was dismissed as a doom monger even though I have been given good in depth advice by people in positions of trust

We Are NOT going back to work soon so you have to take a pragmatic look into the future

I've got plant going rusty

I've got vehicles storing up problems in modules because of un usage

I've got batteries to fail

I've got overheads at work and at home

I've had and got security issues at work with vandals thieves and others and so far even though they have been logged on 101 I have had nothing from the police,  zilch nothing

This is week 2 only starting on week 3

We are looking if we are lucky at a small july start,the worst time in the calendar for motor traders

My insurance is ticking away unused but fully paid for just 4 weeks ago

Why should I not now be looking for help from all my suppliers including my landlord for some help however small

Trust me my letter has gone

I want to open my business with the minimum of debt

Thanks for reading

 

Understand your points I really do and believe me, I don’t want to pay for something I can’t use, but right now isn’t the time to ask and smells of opportunism. Are you entitled to a grant? When this sorts out, if I were a LL, I’d boot off anyone who jumped on this straight away.

Regardless of all the above, shouldn’t you still pay something since you’re storing your belongings there?

[New year revolutions...... 197]

4 minutes ago, Mojo121 said:

Understand your points I really do and believe me, I don’t want to pay for something I can’t use, but right now isn’t the time to ask and smells of opportunism. Are you entitled to a grant? When this sorts out, if I were a LL, I’d boot off anyone who jumped on this straight away.

Regardless of all the above, shouldn’t you still pay something since you’re storing your belongings there?

Sorry I really dont see it as opportunist

Its planning for the future

[justina3 518]

Major can of worms this seems to be up and down the country with seven commercial properties we have stepped in to help four  the other three are doing better than normal so they can cough up. 

[have a word with the wife 299]

5 hours ago, Mojo121 said:

Understand your points I really do and believe me, I don’t want to pay for something I can’t use, but right now isn’t the time to ask and smells of opportunism. Are you entitled to a grant? When this sorts out, if I were a LL, I’d boot off anyone who jumped on this straight away.

Regardless of all the above, shouldn’t you still pay something since you’re storing your belongings there?

i am reading this and yes agree with your points, but, the grant is not just for paying rent , it is quote for " support through this period of disruption" .

i think the time is right now, it will  keep the landlord informed, do not just hold back rent and be relying on recent legislation, re "protection from eviction" at all, informing [ i prefer the word asking] landlord would show that you are planning for the weeks [months] ahead, and not sticking your head in the sand.

If i were landlord, the businesses that can continue would get zilch, and companies that have been stopped trading [none essential business] would get fair consideration based on there past rental history and future likeliness to continue post lockdown.

i see the letter as a template, you can move words round for your own situation, [ as i have] it is, as i see, a guide, what does holiday exactly mean ? could be viewed different ways, think this might need some clarity, does it infer no rent, and nothing owed at end of 3 month, or, as i see it ? a debt moved forward 3 month to be discussed at the end to determine payment method, because if it is this, i cannot see the benefit, okay every bodies situation is different, it will need to be determined between landlord and renter, but, your not going to sell 2 cars instead of one in hopefully 3 months time, i heard a great line by the way "nobodies going to get there haircut twice " 

i today have followed my own advice and asked for a discount, which i believe all round is fair, i am not holding out on this, but, as a business man, i will try and cut my overheads through this no income period.

lets take a look at my recent forum question/vote re

are you considering withholding the rent on commercial property ?

 https://cardealermagazine.co.uk/forum/topic/8496-withholding-rent/

29% yes

37% no

26% i am going to talk to landlord

7% i may talk to landlord later in the following months

 

[Lazz 16]

I think people should be tackFull how they handle this or they may find it comes back to haunt you at a later date

[New year revolutions...... 197]

1 minute ago, Lazz said:

I think people should be tackFull how they handle this or they may find it comes back to haunt you at a later date

Absolutely

This is why it's better to ask now rather then down the line as it is keeping everyone in the picture and you are asking for help not asking for something for nothing

I like the phrase ...we are all in this together.....

Apart from that Branson of course

[TangoVictor32 90]

7 hours ago, Mojo121 said:

Appreciate the guidance but it's hard to conceive how many would be in the situation of not being able to afford rent already, it's been what? A few weeks?

For example: We are paying as long as we find it fair, this month is paid, next month will more than likely be paid but after that we will have conversations. It's not that we can't afford it, it's just why pay rent for something we can't use when my LL is mortgage free? It's not his fault - he worked hard to pay off his mortgage, it's not ours - we can't trade, but fairness has to prevail. How that looks will be different in every situation and probably to each individual party.

Just hopeful for a quick end to this... I don't know about everyone else but I feel like I've ended up on the wrong timeline/ parallel universe! 

Well what about car payments or mortgages? You might get holidays but you still have to pay at the end... 

 

So why do landlords always get shat on? Some landlords do rely on the rent as their bread and butter. 

Residential tenants are milking this... Bought toilet paper and claim they cannot afford the rent 

Edited April 6, 2020 by TangoVictor32

[MrC 142]

So long as we are able to pay we will pay. If the shit hits our fan and reserves are running dry I will be asking our landlord. 

[New year revolutions...... 197]

7 minutes ago, TangoVictor32 said:

So why do landlords always get shat on? Some landlords do rely on the rent as their bread and buttur

I've never yet met a small time commercial property renter 

They are normally run as part of a property empire where the last building pays for the mortgage on the next one

This worked fine  till 2008

Come up to date and I think you will find that a lot of businesses that rented units don't bother anymore as they can work from home sell crap on ebay and get it delivered by Amazon

This is why if you're a long standing tenant pay on time cause no trouble and been put in a position outside your comfort zone and wallet a bit of help would be appreciated,it makes no difference how much cash you have

Im going to stick my neck out now and say if you are willing to accept thestaus quo you are not a business man/woman

You are not in charge you are just flowing on the tide 

[judithcox 0]

Thank you so much. This helps a lot for people who have zero negotiation skill like myself.

run 3

Edited August 3, 2020 by judithcox

[New year revolutions...... 197]

You could always use my letter

 

Dear landlord

Reduce my rent or the roller shutter gets it

Yours sincerely

A covid isolation victim 

 

[justina3 518]

38 minutes ago, judithcox said:

Thank you so much. This helps a lot for people who have zero negotiation skill like myself.

Zero negotiation skills ? good job where not in the motor trade having to do deals to buy and then deals when we sell phew that would be a nightmare.

[Row 71]

40 minutes ago, judithcox said:

Thank you so much. This helps a lot for people who have zero negotiation skill like myself.

Your not a car dealer then I guess!

[BHM 994]

Barbara’s sister?

[have a word with the wife 299]

Here is a update

So to reduce all overheads, and, watch cashflow, i started at the top.

Few week ago i contacted the landlords, by phone, i would have preferred eye to eye, [ previous to the call a email was sent, no reply ] on the phone i find office staff are "off" ?

I explained in detail about "none essential" and it was if the chaps had never even heard of lock-down ? other than they had to queue in the bank 2 metre apart, i explained i was being "forward looking in my plan" and not burying my head, i asked for 50% reduction for the next quarter, at this point i was requestioned why ? so repeated the scenario, drawing particular attention to my thinking this is not a 3 week lock-down for us, i was told i would be rung back, it was vaguely infered that 50% could be setback 3 month, which i refused citing thats just putting a debt forward and i did not want a rent "holiday".

Over 25 years at my place, and being tidy, good payer etc expected a call, now do not get me wrong this place ticks most boxes, and last year i gambled and expanded, and it had proved a good move, and would be very difficult to find similar, [ don't tell the landlords that !  ] that is, of course, today, tomorrow may be different ?

Leaving it a while, let the news seep in a bit further, let them see the shops closing etc, i wrote a letter, explaining in detail again, my proposal, even enclosed a sae for prompt reply !

That was last Wednesday, no reply, not even decent enough to state yes, or repay in 3 month, or no, not all.

They have no mortgages on these properties by the way, on checking my property this week, one business has "disappeared" and another is in the process of moving out, neither i know, the landlords know about !

So, mmmm, thanks landlord, "all in it together"? doubt it, time for a rethink.........

 

 

[Casper 272]

2 hours ago, have a word with the wife said:

Here is a update

So to reduce all overheads, and, watch cashflow, i started at the top.

Few week ago i contacted the landlords, by phone, i would have preferred eye to eye, [ previous to the call a email was sent, no reply ] on the phone i find office staff are "off" ?

I explained in detail about "none essential" and it was if the chaps had never even heard of lock-down ? other than they had to queue in the bank 2 metre apart, i explained i was being "forward looking in my plan" and not burying my head, i asked for 50% reduction for the next quarter, at this point i was requestioned why ? so repeated the scenario, drawing particular attention to my thinking this is not a 3 week lock-down for us, i was told i would be rung back, it was vaguely infered that 50% could be setback 3 month, which i refused citing thats just putting a debt forward and i did not want a rent "holiday".

Over 25 years at my place, and being tidy, good payer etc expected a call, now do not get me wrong this place ticks most boxes, and last year i gambled and expanded, and it had proved a good move, and would be very difficult to find similar, [ don't tell the landlords that !  ] that is, of course, today, tomorrow may be different ?

Leaving it a while, let the news seep in a bit further, let them see the shops closing etc, i wrote a letter, explaining in detail again, my proposal, even enclosed a sae for prompt reply !

That was last Wednesday, no reply, not even decent enough to state yes, or repay in 3 month, or no, not all.

They have no mortgages on these properties by the way, on checking my property this week, one business has "disappeared" and another is in the process of moving out, neither i know, the landlords know about !

So, mmmm, thanks landlord, "all in it together"? doubt it, time for a rethink.........

 

 

Its only common decent of them to give you an answer at least .   

[CCC 31]

Not that I condone not paying but if they refuse to engage then non payment might get them to answer your calls.

Frankly, if they are mortgage free then they are amateur landlords if they aren’t looking after their long term interests by looking after your interests.

IIRC they become liable for rates on vacant premises so a reminder that losing tenants whilst have no prospect of getting more is going to cost them dearly.

Weve a few BTL’s and whilst I don’t offer rent reductions if a tenant contacts me we’ll work something out and we’ve offered reductions in the past to good tenants as that’s cheaper than empty, finders costs and increasing risk of damage. 

[have a word with the wife 299]

just read this on a business website =

While the tenant isn’t in a particularly strong position in the absence of express wording in the lease, landlords are facing their own pressures and will be keen to adopt a commercial approach.

A tenant does not become a “bad tenant” overnight, so if the landlord feels that the occupier is able to weather the storm, they will at least have a tenant in place once we do reach calmer waters. The alternative for the landlord is forfeiting and risking an empty unit which they’re unable to fill for the foreseeable future.

Open and honest dialogue is the best way forward for both landlords and tenants.