Renegotiating rent payment terms

Cash is king and one of the ways that you can preserve cash, is by renegotiating rent payment terms with your landlord.

This, understandably, can be a prickly conversation, as leases are contracts and there is a legal obligation to pay the rent, on the terms as set out.  

Whilst some landlords will be sympathetic and offer rent concessions, deferment of rent or changes to payment terms (from quarterly to monthly payments for example), other landlords who rely on the rental payments, might take a harder line approach, referring back to the lease and saying the rent needs to be paid in full.

It is critical that you (or your representative) have an open and frank conversation with the landlord and negotiate to reach an agreement.  Landlords will be wary of tenants trying it on, so they may ask for further information to review.  They might also ask you to explore the other government initiatives, such as the grants and loans available first.  However, having a conversation with the landlord, is likely to result in a better situation than simply withholding rent payment. 

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