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Hit by lockdown, commercial property owners, tenants in Pune settle rentals amicably
The issue of collecting lease rent from business enterprises has become tricky for commercial property owners in the city
With no income during the last 40 days of lockdown imposed amid Covid-19 (coronavirus) crisis, the issue of collecting lease rent from business enterprises has become tricky for commercial property owners in the city.
In a number of cases, the property owners and their clients have tried to work towards an amicable solution as the loss of business has been sudden and due to reasons beyond anyone’s control.
Sanjay Sangamnerkar who operates a hair salon at Padmavati, said, “For the last one-and-half months, my shop is closed and routine expenses at home have to be met such as payment of utility bills, payment to my workers and other expenses at home. I am paying rent of Rs 18,000 rent for my shop and I have requested the owner to give me two months time to pay the rent. The owner has agreed.”
Sangamnerkar said, “I cannot ask the owner to waive the rent for the entire month as he is a senior citizen and the rent from the shop is a part of his retirement earnings. He too has been cooperative and so I have decided to pay the full rent but over a period of two months or so.”
Lakhan Yadav who runs a sweet shop on Satara road said he has been paying a monthly rent of Rs 24,000 for a 200 sq ft area. “I do not wish to deprive the owner of his rent,” said Yadav, noting that he had earned well during the festival seasons and the owner had not asked for anything extra on that occasion.
Sunil Shah, owner of two shops near Mukundnagar said he uses the rent amount to pay the bank loan instalments towards that property. “Considering the situation we are in, I have told my tenants not to worry and make deferred payment as and when their cash starts flowing back. “I don’t think banks are going to waive off our EMI (equated monthly instalments),” he said.
Santosh Kumar who runs a laundry near Dhankawadi said like all others who are running small businesses, he too had no work for the entire month due to the lockdown. “There is no question of people giving clothes for washing and ironing. I have taken to selling fruits and vegetables in the meantime to earn some money. I requested my owners to defer the rent and he has agreed. I did not ask for my rent to be waived fully or partly as the owner is supportive,” he said.
Anis Shergadwala, real estate agent of Sofiya Properties in Undri, who looks after 100 commercial units of mostly non-resident Indians, said, “ Post lockdown we have advised all our clients to give minimum fifty per cent concession in monthly rent which they have agreed. The concession must be given to the tenants as they have been paying regular rent and looking after the commercial properties of the investors.”
“We have even advised them to consider waiving off the rent as the establishments are completely shut,” he said.
Sanjeev Singh of Tailspin Properties said, “The shops are closed for an indefinite period. The tenants have informed their landlords that they will pay the arrears once their establishments start the business and it stabilises. The tenants have requested the owners that their contracts must not be terminated as it would lead to unemployment and loss of business.”
Mahesh Salian, a property broker from NIBM road, said “ The tenants have taken their landlords into confidence and told them that once the business starts operating, they will ensure that the rent is paid. At the same time, we have also requested the landlords to take a considerate view of the tenants.”
