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Coronavirus Fallout: Landlords are Struggling

The emptiness of our high streets is an epidemic Britain has been dealing with for what seems like an eternity. Now that a global pandemic has been added to the equation, Landlords are further feeling the weight of it.

With the worst recession we’ve ever seen looming, many commercial landlords can do nothing but wonder when the sun is going to break; and with many sectors yet to even feel the full impact, there still doesn’t seem to be any light at the end of the tunnel.

To add to the ambiguity for landlords during current times, a unique kind of strain has been put on their relationship with their tenants. The government legislation introduced has helped to upset the balance, with tenants seemingly being given the upper hand and many commercial landlords feeling forgotten and ignored.

In June this year, a survey showed that 47% of rents were unpaid within offices 10 days after the due date. It seems that when Landlords aren’t worrying about their vacating tenants (and incoming empty rates bills), they are worried about the defaulting ones.

Fortunately, for any commercial landlords reading this blog, there may be some much-needed relief on the horizon. At FCS, we specialise in Empty Rates Mitigation; we generate over £7M a year in savings for our clients and have over six years experiencing in dealing with Local Authorities. You’ll be in safe hands.

If you have a vacant commercial property due to COVID-19, or any other reason, then get in touch with our Business Rates experts today and we can save you up to 100% of what you’re currently paying. Call us on 0161 883 1675 or request a callback. What have you got to lose?

 

 

 

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