HOW TO PREPARE YOUR CASE FOR RENT RELIEF OR A BETTER LEASE

If you want/need to make a case to your landlord for rent relief – short or long term – here is a list of what we suggest you assemble to enable you to make a case. This is what we ask from you if you seek our help. Your evidence is key. Too often retailers ask for rent relief without making a business case and then wonder why their request was rejected.

1. Current profit and loss (most recent year or to the end of the most recent quarter) and for the same period a year earlier. This does need to be recent to be relevant.
2. Sales comparison for recent period (more than 3 months) to same period a year ago..
3. Details of every step you have taken to improve traffic and sales including external marketing and costs associated with each activity. Assemble this in a spreadsheet. This will be important to show you are doing your part for your business.
   1. Itemised.
   2. Numbered.
   3. Provable.
4. Details of steps you have taken to manage costs. Again, show that you are professional and thorough in your approach to your business.
5. Changes made to the business over the last year. Assume your landlord has not been to the shop and seen the work you have undertaken.
6. If possible, comparisons with other newsagencies – an understanding of how you compare, especially if it shows you as doing better than most in key parts of the business.

Take your time. Be thorough. The more complete and professional your documents the more notice will be given to your request for assistance.

Once you have all of this information together look for a narrative, a story, which supports the proposal you want to make to the landlord.

By narrative, we mean a case, a story, the reason – to justify your request. The data you have gathered will/should support this.

If you do not have a specific proposal, what you actually want – work it out.

It is not enough to say you want a better deal, a discount on rent or some other relief. Landlords get that all the time. Your request needs to come with something for them. Be specific and ensure you have the data necessary to justify your claim.

If your P&L shows your profit is stable or improving, your case will be hard to make.

If profit is falling your case is easier, not too easier, but easier nevertheless. You should not manufacture figures to suit your case though. Look at the accurate data and listen to what it tells you.

If your P&L shows profit declining or you making a loss, consider what you actually want as a result of this.

Too often retailers go to a landlord with a problem and not a solution. Work on your solution and use the information you have gathered to justify the solution to your landlord.

The best people to pitch a landlord for assistance are the business owners. There are some horror stories in the newsagency channel about so-called leasing experts who have left newsagents worse off than ever.

Prepare your proposal, based on verifiable evidence and present it without emotion. 

The proposal should be in writing, not too long, with the documents you have assembled as attachments to support your case.

Usually, a landlord will want a meeting. Ensure there is an agenda. Go with prepared notes and your evidence. Do not get sidetracked. Do not engage in emotive arguments.

Your sole focus ought to be on the outcome you want and the evidence you have which supports this outcome.

newsXpress can help in assessing your information and guiding you. If you want deeper engagement we may suggest a lease advisor but they can be expensive.

FOOTNOTE: be true to yourself. If what you want is not supported by your own business data then don’t ask for it. Landlords get requests every day from tenants asking for a better deal. Those who achieve it are those who have made the case.