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RETAIL: Retailers Sceptical of Rent Aid
Listed under: News
Published: Wednesday, July 30, 2008
The latest development in a two year campaign by the British Retail Consortium (BRC) to transform the rent system has met with scepticism from craft retailers.
The proposals, which will see retailers pay rent on a monthly rather than quarterly basis, were recently backed by commercial landlords. However craft retailers believe the scheme is unlikely to help businesses struggling to survive in the current climate as many are already making monthly payments. Rosemary Allsupp of craft store Nevets Crafts says “At the moment we pay our rent monthly anyway so it won't actually affect us at all. I think it will be really helpful for retailers struggling to make the quarterly payments, but I'm not sure whether enough people are actually doing that for it to make any real change.”
According to the BRC, the scheme could save retailers a total of £145 million a year. BRC's director general Stephen Robertson says "The BRC has made significant progress in establishing monthly rents as the norm but today's tough trading conditions mean the impact of quarterly leases still out there is that much greater.” However retailers remain unconvinced. Lynn Courteney owner of Flutterby Crafts agrees “I pay rent on a monthly basis, although ideally I'd like to not pay it at all! To be honest I can't imagine why any landlords would allow tenants to pay rent quarterly and I certainly don't know of any who currently do.”
What do you think of the scheme? Email me your thoughts on this issue or any other story to .(JavaScript must be enabled to view this email address)
According to the BRC, the scheme could save retailers a total of £145 million a year. BRC's director general Stephen Robertson says "The BRC has made significant progress in establishing monthly rents as the norm but today's tough trading conditions mean the impact of quarterly leases still out there is that much greater.” However retailers remain unconvinced. Lynn Courteney owner of Flutterby Crafts agrees “I pay rent on a monthly basis, although ideally I'd like to not pay it at all! To be honest I can't imagine why any landlords would allow tenants to pay rent quarterly and I certainly don't know of any who currently do.”
What do you think of the scheme? Email me your thoughts on this issue or any other story to .(JavaScript must be enabled to view this email address)
