Landlords should allow all retailers to pay for rent on a monthly rather than quarterly basis, the British Retail Consortium (BRC) has urged this week.
Director general at the BRC Stephen Robertson also asked chief executive of the British Property Federation Liz Peace in a letter to hold a summit between members of both organisations before the next payment is due, reports the Independent.
He suggested that
monthly rents ought to be “standard practice” and not only offered to fit into the financial circumstances witnessed at individual retailers.
“I believe that monthly rents should not be offered solely to retailers as a result of their financial position, but as standard practice where this fits with an occupier’s business practices,” he stated.
Property policy adviser at the BRC Edward Cooke added that a number of the body’s members have been successful in the last couple of years in gaining monthly rents.
