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Pragmatic advice for landlords and tenants in a contracting economy

Some of South Africa’s largest landlords have taken a pounding over the last two months with even our largest retailers, like Massmart, seeking rental relief.  While this serves as a cautionary tale, lending specialist, Paragon Lending Solutions, says smaller property owners and tenants can take action now to ride out the bumpy months ahead.

“As the reality of job losses begins to take its toll, many tenants will face the reality of not being able to pay their rent. Landlords, meanwhile, will be looking hard at their cash flow projections and wondering how they will meet repayments to banks and other lenders. Based on what we are seeing in the markets now, we have some advice for both property owners and their tenants,” says Gary Palmer, CEO of Paragon Lending Solutions.

Landlords, think long-term

Landlords should be thinking about how they can garner as much goodwill as possible during this time. A good working relationship between owner and tenant has real value, especially when times are tough.

Source: SA Property Insider

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