SERVICES
Lease Health Check
There have been major changes in the leasing and rental market brought about by the COVID pandemic affecting all tenants who lease Retail, Industrial or Commercial premises.
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It’s important that every tenant is aware of the changes in rentals as well as the rise in incentives being offered such as rent free periods and fitout contributions which can benefit them come lease renewal time.
The RCI Lease Health Check will examine your existing lease to determine if you have received the discounts and concessions you were legally entitled to during the COVID pandemic. We then go on to assess your current rental as well as explain the hidden costs and obligations associated with your lease expiry, particularly those that may have been overlooked amongst the excitement of setting up a new business & signing the initial lease. This includes conditions such as personal guarantees & make good provisions which can cost tens of thousands of dollars and seriously affect your business and long term future.
Rental and Lease Negotiations
Lease renewals have changed, Landlords are now more receptive and open to negotiating. It’s no longer a case of just signing a new lease with the same standard conditions and an increase in rental. A rise in vacancy rates and supply have brought falling rentals, a softening in lease conditions along with a rise in incentives being offered to tenants. Even if your business has not been affected by COVID, all commercial tenants moving forward will benefit from this dramatic change in the leasing market.
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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 satisfies both parties, is workable, and commercial realistic.
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Tenant and Landlord Dispute Resolution
Many tenants and landlords are faced with a complicated and challenging set of circumstances brought about the global pandemic. There have been compulsory closures, restrictions to customer numbers allowed into stores and restaurants, and the movement towards working and learning from home just to name a few.
Both State and Federal Governments in attempting to avoid a commercial property collapse, introduced legislation aimed at helping tenants and landlords to stay in business. As part of this both sides were encouraged to work together and negotiate outcomes in the interests of both parties, but at the same time there has been uncertainty as to how the revised leasing laws apply which has given rise to many tenant and landlord disputes.
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RCI offers a Nationally Accredited (NMAS) Mediator in a formal, informal or remote setting with the experience of having been a small business owner and commercial property manager, to discuss with both parties the disputed issues, develop options and work towards a resolution. Proceedings 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 proceedings. We are able to draft Mediated Agreements which once signed constitute a legal document.
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
Recent events have changed the way in which we all do business, we’ve seen the growth of on-line sales, home deliveries, as well as learning & working from home. Businesses have been forced to pivot, and think of new ways of selling and servicing their customers. More than ever it is vital to take a closer look within all areas within your business to ensure it survives in the Post COVID world.
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The RCI team has owned and operated successful retail and wholesale businesses across Australia and is experienced in working with and building businesses large and small, from food to fashion, furniture to fruit.
We are your CEO on call, assisting you in:
· Review of 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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With the huge changes we have experienced in recent times, it is vital that every business adapts to ensure its long term survival. The combination of a "fresh" set of eyes, along with proven process and strategies is what the RCI team delivers. Contact us today and find out more about our small business success stories and how we can help you.
COVID-19 SUPPORT
Tenant COVID Support Features
· An explanation of the COVID tenancy legislation all protections and concessions you are entitled to, and what it means for YOUR business, YOUR rent And YOUR future.
· Creation of a "road map" for negotiations to ensure that not only you receive these benefits, but also take full advantage of the opportunity to negotiate amendments to your lease which take into account the impact of COVID-19 on your business long term.
· All communications & representation to landlords on your behalf to start the process of reviewing rental payments, renegotiating leases.
· Attendance at meetings with landlords on your behalf or alongside you to negotiate & achieve the best possible outcome for your business.
Landlord COVID Support Features
· One on one meetings with landlords & investors to explain to you what the National Mandatory Code Of Conduct means for YOUR rights as a landlord , rental payments and leasing arrangements.
· Restructuring of lease arrangements , including rental payment schedules to take into account COVID legislation requirements, whilst ensuring that landlord's cash flows continue and your property's value is not affected long term.
· Attendance at meetings and all correspondence with tenants , including negotiations and final agreement
