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Do you remember when landlords held the upper hand in negotiations with tenants? How things have changed. There has been a profound shift in the relative bargaining positions of landlords and tenants.
This has not been a gradual change, but a dramatic inflection. There are many forces at work here, fuelled by economic uncertainty and changing risk profiles. High street banks hit hard by the fallout from sub-prime lending have themselves become a risky proposition. The retail industry is in shock, headcounts are falling in general and property portfolios are being reassessed accordingly.
But it's not all doom and gloom. The market has changed and entrepreneurial landlords will adapt to take advantage. It's time to say "goodbye tenant, hello customer" in the drive towards recovery. How will you adapt and what action do you need to take? |