Jean See on Lease Agreements for Retail Premises Bill
The introduction of a Bill to balance the bargaining power between landlords and retail tenants is timely as many small businesses seek to find their footing amid fresh headwinds after the COVID-19 pandemic. Some of these are self-employed business owners for whom shop rent is a significant operating cost. NMP Jean See said this in Parliament on Thursday (Aug 3). She suggested that where rent adjustments are required, landlords could calibrate them over a longer period. This would allow small businesses time to adjust their business models and communicate fee increases to customers. Landlords could also share how they derive various costs.
The introduction of a Bill to balance the bargaining power between landlords and retail tenants is timely as many small businesses seek to find their footing amid fresh headwinds after the COVID-19 pandemic. Some of these are self-employed business owners for whom shop rent is a significant operating cost. NMP Jean See said this in Parliament on Thursday (Aug 3). She suggested that where rent adjustments are required, landlords could calibrate them over a longer period. This would allow small businesses time to adjust their business models and communicate fee increases to customers. Landlords could also share how they derive various costs.
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