The Government has moved swiftly and announced a variety of policies to protect public health, preserve jobs and the economy.
We have developed a practical solution for calculating and reporting rent relief with an end-to-end approach.
A simple 3 step process to provide greater certainty for all parties
1. Interim rent relief
Determine estimated impact on the tenant’s trade at the beginning of the reporting period (e.g. beginning of the quarter), based on tenant prepared forecasts
Provide temporary rent relief to tenants proportionate to the forecast reduction in trade.
2. Rent relief adjustment
At the end of each reporting period, e.g. the end of each quarter, perform a period end calculation of the actual reduction in tenant’s trade and the proportionate final rent relief for the previous period, before issuing an adjustment note for any over or under payment
3. Independent audit
Independent audit of the financial information provided by the tenant.
Working together to deliver a solution that provides certainty.
Our dedicated property and infrastructure industry group brings together our key specialist advisors across divisions in this space to provide clients with an integrated service and expert advice.
For a no obligation chat, please contact us today.