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SERVICES
The RCI Lease Health Check
There have been major changes in the leasing and rental market brought about by the COVID pandemic across Retail, Industrial or Commercial properties.
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It’s important that every tenant is aware of the changes in market rental rates, incentives being offered by landlords, as well as new conditions and clauses being included in updated lease documents.
The RCI Lease Health Check starts with an assessment of the geographical area around you to compare your current rental with similar spaces on the market right now to determine if you are paying the correct, current market rent.
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From there, we examine your existing lease document to identify any hidden costs and obligations such as "make good" provisions which requires you to strip out your fitout and hand back the premises as a concrete shell if you choose to leave.
It is important you are also aware of any "notice period" when it comes to exercising option periods, or informing your landlord that you intend to vacate.
At the conclusion of the RCI Lease Health Check you will be fully briefed on
* How fair your current rent is in the post COVID market
* All the costs & obligations of your current lease, particularly when it comes to the expiry.
* Whether there are savings that can be achieved when it comes to rent, and if there are conditions that can be negotiated on any new lease to benefit you.
Lease Renewals &
Rent Negotiations
The world of lease renewals has changed, it’s no longer a case of just signing the new lease that's put in front of you with the same standard conditions and an automatic increase in rental. With more and more "For Lease" signs appearing along with an increase in vacancy rates, there has been a softening in the leasing market which has brought landlords and tenants back to the negotiating table. There are a wider variety of incentives being offered over and above just the standard rent free periods. On top of this, more relaxed lease conditions, and a drop in rents, has opened the door to a more collaborative approach to lease renewals and renegotiations.
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RCI's Professional Negotiators have experience in dealing with all sized tenancy matters & landlords. We examine any lease renewal proposals put forward by landlords, and then conduct a thorough assessment of rents in your surrounding area, to ensure what you are being offered is the right rent according to the changes in the market. A deeper dive into the new lease is done to ensure that it doesn't have any of the nasty conditions & obligations that can come back to hurt your business both in the short and long term.
Our negotiators handle all communications, meetings and correspondence with your landlord or managing agent and don't stop until they get the best deal possible for your business. The RCI difference is that we have been a landlord and a tenant, which gives us the unique understanding of how to structure and negotiate a deal that delivers the right outcome and doesn't leave any money "on the table"
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Tenant and Landlord Dispute Resolution
The impact of COVID continues to be felt across business, many still have deferred rental balances outstanding, retail or office space that is no longer suitable, and rent that they can no longer afford.
A significant proportion are tied into longer term leases and finding their problems are escalating as they struggle to adjust to the post pandemic world where trade levels have not returned to normal.
Many landlords have expressed their belief that tenants are now expected to stand on their own two feet, return to normal rents as well as clear up any arrears (including rent deferrals from the COVID period).
This is giving rise to increased pressure in many landlord/tenant relationships, more legal threats, and a challenging environment for all.
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Traditional legal procedures come with significant cost and do not always allow all parties to express their positions in an understanding and collaborative environment. One of the few positives that has come out of the COVID period has been the rise of more positive and constructive discussions between tenants and landlords.
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RCI can facilitate combined mediation/negotiation sessions with all parties, led by our trained & qualified mediator who the experience of having been a small business owner and commercial property manager. In these sessions, both parties are able to discuss the disputed issues, develop options and work towards a resolution. These proceedings can be conducted in a formal, informal or remote setting are a practical and are a cost effective option allowing tenants and landlords to be heard, express their positions whilst avoiding costly and time consuming court & legal proceedings.
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Lease Due Diligence For New Business
Setting up a new business is exciting, and with so much going on we can overlook many of the important details that are critical for its long term success. Your lease is one of those things that you normally hand to your solicitor for a quick “once over”, but it can potentially contain a lot of hidden nasties which can really come back to bite you later and cost you a lot of money. Do you know that a “make good” clause can cost you up to 6 figures at the end of your lease ? What about personal guarantees, did you know that your risk your home and assets if the rent remains unpaid ? How about outgoings & promotional levies, what about market rental reviews?
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RCI will do what the solicitors and accountants don’t do, and that’s look through your lease with a commercial and practical eye to explain all of the hidden obligations and costs through to the end of your lease term. It’s more than just about the rent, so we negotiate with your landlord on your behalf to limit those more costly obligations in your lease, and fully brief you so that there are no surprises along the way.
Business Coaching
In recent years small businesses have faced some major challenges, many have been forced to pivot and find new ways of selling and servicing their customers. Adding to this pressure, the increasing cost of doing business is becoming a major issue with rises in power prices, labour, rent, fuel and other operational costs.
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At RCI, we have had over 30 years owning and running our own businesses across retail, wholesale, and service industries.
We have experienced the same challenges that businesses are facing, and developed our own practical strategies and tools focused on long term viability & success.
We will be by your side to explain and go through all key areas of your business, including :
· Reviewing all key financial areas such as operating costs, pricing, margins & profitability
· Renegotiating of rentals, lease and supplier agreements
· Identification of new product opportunities and sales channels
· Marketing & Promotions
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RCI will provide you with an experienced "fresh" set of eyes, to guide you every step of the way. Our practical hands on experience, as well as proven successful strategies will ensure you get the most hands on support and action plan that is tailored to your business and the issues that need addressing .