meathead Posted April 7, 2020 Share The clue is that the tenants are effectively asking to renegotiate their leases by asking for rent relief.Perhaps evaluate each tenant on an individual basis Link to comment Share on other sites More sharing options...
vanniri Posted April 7, 2020 Share Hello chair, Are we starting the meeting? River Rat 1 Link to comment Share on other sites More sharing options...
River Rat Posted April 7, 2020 Share Okay let's start the first thing we have to do is determine the rules of the game let's start with some categories. I have Political - government interventionsFinance - what can we expect from the banking communityLegal - this is both existing agreements as well as new state of disaster ones.Sociology - will our behaviours remain the same or change.Labour- how will the work force react. Any additions to this? Link to comment Share on other sites More sharing options...
CJ Van Posted April 7, 2020 Share With the anchor tenants making up 65% of the total income and the doctors and legal frims adding a bit to this that meens that they want more than 30% drop in their monthly rental. I can understand that the doctors, legal firm and clothing store would have taken a big hit during lock down but dischem and Spar should still be operating and earning income. Will their income during this period have reduced that much? Link to comment Share on other sites More sharing options...
Benjamin Posted April 7, 2020 Share Retail, being a primarily retail centre, the retail market may look quite different to preshutdown Link to comment Share on other sites More sharing options...
ACM Posted April 7, 2020 Share Socioeconomic (in terms of clients of tenants/workforce/shareholders/etc.)? River Rat 1 Link to comment Share on other sites More sharing options...
geomark Posted April 7, 2020 Share Okay let's start the first thing we have to do is determine the rules of the game let's start with some categories. I have Political - government interventionsFinance - what can we expect from the banking communityLegal - this is both existing agreements as well as new state of disaster ones.Sociology - will our behaviours remain the same or change.Labour- how will the work force react. Any additions to this?Can any of them die/cease to be business in the period? Link to comment Share on other sites More sharing options...
SteveFW Posted April 7, 2020 Share The clue is that the tenants are effectively asking to renegotiate their leases by asking for rent relief.But there are no extraneous rules other than those set out above which govern this situation, i.e. if one were to enter into a rights based third party resolution (arbitration or litigation) those would be the rules which would be applied and their would be decision arising from the application of these rules. Link to comment Share on other sites More sharing options...
River Rat Posted April 7, 2020 Share Okay let's take the comments into the rules.1. Tenants are unable to pay their rents and the number varies from 0 -50% during the lockdown or directly thereafter.2. Tenants are renegotiating their lease.3. The banks are willing to renegotiate the terms of the loans.4. Lockdown will be in effect to at least 16th April. Link to comment Share on other sites More sharing options...
SteveFW Posted April 7, 2020 Share Political - government interventionsFinance - what can we expect from the banking communityLegal - this is both existing agreements as well as new state of disaster ones.Sociology - will our behaviours remain the same or change.Labour- how will the work force react. Are these not the key uncertainties and scenarios which need to be developed in step 2? Link to comment Share on other sites More sharing options...
River Rat Posted April 7, 2020 Share Can any of them die/cease to be business in the period?New rule some tenants won't survive the lockdown. Link to comment Share on other sites More sharing options...
vanniri Posted April 7, 2020 Share Okay let's start the first thing we have to do is determine the rules of the game let's start with some categories. I have Political - government interventionsFinance - what can we expect from the banking communityLegal - this is both existing agreements as well as new state of disaster ones.Sociology - will our behaviours remain the same or change.Labour- how will the work force react. Any additions to this?I would split government interventions into:PoliticalTax Under political I see soft issues such as labour relations/environment Tax - whatever comes our way Also include shareholders as a seperate category River Rat 1 Link to comment Share on other sites More sharing options...
River Rat Posted April 7, 2020 Share Political - government interventions[/size]Finance - what can we expect from the banking community[/size]Legal - this is both existing agreements as well as new state of disaster ones.[/size]Sociology - will our behaviours remain the same or change.[/size]Labour- how will the work force react.[/size] Are these not the key uncertainties and scenarios which need to be developed in step 2?[/size]The extent of say government intervention is a key uncertainty that they will intervene is certain. Link to comment Share on other sites More sharing options...
vanniri Posted April 7, 2020 Share I also suggest to change sociology to customers River Rat 1 Link to comment Share on other sites More sharing options...
meathead Posted April 7, 2020 Share Your anchor tenants what time do the have left on their respective leases Link to comment Share on other sites More sharing options...
River Rat Posted April 7, 2020 Share Okay let's take the comments into the rules.1. Tenants are unable to pay their rents and the number varies from 0 -50% during the lockdown or directly thereafter.2. Tenants are renegotiating their lease.3. The banks are willing to renegotiate the terms of the loans.4. Lockdown will be in effect to at least 16th April.From the comments two additional rules.5. We will lose tenants. 6. Government will intervene. Link to comment Share on other sites More sharing options...
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