He said: "We are offering a three-month
rent-free period from August and then a 50% reduction after that.
Instead of lowering rents, Rayner said, the owners are offering incentives such as
rent-free period and rents inclusive of utility bills to attract new tenants.
5% profit which will rise to more than 7% in March following the expiry of a
rent-free period at the park.
Filinvest Land had also sought to extend the
rent-free period to 18 months, but the SSS kept the six-month rent-free fit-out period, citing its leasing guidelines approved by the Social Security Commission.
Sometimes the
rent-free period is extended as an incentive to induce the tenant to take the lease at the rent required.
They generally include a
rent-free period, a reduced rent period, or cash payments from the landlord to cover specific costs.
Thus, there will be a
rent-free period from the first to fourth year of the lease period.
As part of the deal, a three-year
rent-free period was agreed to give the company time to refurbish the building and trade initially with fewer costs.
How about a
rent-free period when you sign up for a one-year lease?
For instance, how long do tenants want to commit for, should they ask for a lease break option and is the landlord willing to offer a
rent-free period while tenants adapt the premises to their needs?
In addition to a six-month
rent-free period the prize also includes business rates, heat, light and power, maintenance, care taking, security and cleaning.
BlackRock has a
rent-free period of 36 months and rent will be reviewed every five years, Songbird added.
