As rebates end, restaurants and retailers reel from rent, deposit hikes
Some tenants struggling to recover from pandemic face unexpected rent hikes of up to 20%, four- to six-month deposits for one-year renewal
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Singapore
SOME Singapore retail and food and beverage (F&B) businesses are grappling with unexpected rental increments and hefty security deposits (SDs), as they struggle to get back on their feet after Covid-19's impact, The Business Times has learnt.
To be clear, the situation is far from straightforward, as numerous nuanced scenarios play out and rental discussions often turn acrimonious. Still, that has again worsened simmering tensions between tenants and landlords, following last year's months-long tussles over rebates, while a pandemic compounds their difficulties.
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