Yesterday evening, I had dinner with a good friend. Good food by the way and price is pretty reasonable too. Do try it out yeah. Restoran Hoe Mun Kee PJ Steamed Fish Head (non-halal). Click here for the google map. He was sharing about his friend who was angry with his landlord for NOT giving discounts during this COVID-19 period. The landlords should understand their tenants and should help the tenants! By the way, landlords may have moratorium but this is a DELAYED payment and it’s NOT no-need-to-pay okay?
Ever wondered what may happen to tenants who threaten the landlord with moving out? NOTHING, during this COVID-19 period or at least until that first vaccine is found and everyone start to have confidence that there’s now a cure.
However, ever wondered what may happen to tenants who threaten the landlord with moving out must note that property market is always in a cycle. What comes down will go up and a bad day may become a good day next year. Now, a landlord may still continue to rent to you because it’s super tough to find a new tenant. However, when the market comes back alive, the landlord will give notice and ask you to move and they are more than willing to take in someone new at the same rental you were paying.
As for the tenant looking for a place during good times, the rental would have been higher and all the hassle of moving spells trouble too. This is just a typical residential tenant. Imagine what may happen IF the tenant is operating a restaurant and is renting a shop. The shop is a hotspot but currently has become a cold spot because not many people could come out to eat…
The tenant could definitely threaten the landlord based on current situation but ONE DAY, when the market recovers, please remember that this landlord can choose to rent lower than market price but to OTHERS and nit you. Now imagine having to move to a new place and having to try and build up the business again. This does not yet count the loss of opportunity because moving to a new restaurant would take weeks if not months.
Fortunately my tenants are good people. I am grateful. I think I should treat them to a good meal in the near future. After all, the purpose of this article is to tell you that if we have a good relationship with our landlords, they would definitely reduce the rental if they know you have pay cut. However, if the relationship turns sour, just remember that they are known as LANDLORD and tenants, well they are known as tenants.
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