Mandate for landlords' rent waivers exception to the norm

THIS year is turning out to be a rather bad year for landlords. First, most of their tenants had to be shuttered to prevent the spread of Covid-19. Then, landlords were told to exercise leniency when it came to demanding rentals. Now, new legislation will make it mandatory for landlords to waive rents for small and medium-sized enterprise (SME) tenants.

The pandemic has aggravated the woes of some tenants - particularly those in retail - and more action seems likely to help those who are struggling.

But landlords - and their shareholders or unitholders - should take heart. Government intervention is likely to be an exception to the norm.