Ask for a Rent Reduction
This strategy involves asking the landlord for a rent reduction. Landlords will be more open to reducing the rent where:
- You are a good tenant that pays their rent on time and doesn't cause any trouble.
- Falling rents and increased vacancy rates means you are paying above-market rental rates.
Implementation process:
- Use property websites to research the rent paid for comparable business premises located in the same area.
- Send your landlord/property manger an email with links to other comparable properties in the area with a request to reduce the rent by X%.
- Set up a meeting with your landlord/property manager to discuss why your rent should be reduced.
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