Are you a commercial landlord? If so you’ll know that commercial landlords have been having a difficult time over the last eighteen months thanks to the ever-increasing scope of effects brought about by Coronavirus. Commercial landlords are bearing the brunt of a large amount of unpaid commercial rent – how long do you have before you can no longer afford it?
The answer is investing in professional debt collection services.
What is the source of the problem?
Coronavirus has changed the way society operates, and for a large part of both 2020 and 2021 many businesses have had to remain closed. Those that have been able to open have been hamstrung by a mixture of Covid-safe requirements minimising the amount of customers they can serve, and the growing level of distrust many customers are having about shopping in person. None of this is the fault of the businesses, but it does mean they have had a considerable loss when it comes to revenue. Ultimately if a business doesn’t have the cash flow, it can’t be expected to keep up with the payments it owes for tenancy with a commercial landlord.
That means you, the landlord, are the one who ends up being stuck.
What can you do about it?
Over 2020 there have been a number of legislative measures to prevent both private and commercial landlords from evicting clients due to failure to pay rent. From a moral point of view this makes sense, but the reality is that sooner or later your commercial tenants are going to have to start paying again. The effects of Coronavirus are gradually starting to loosen somewhat, leading to more businesses opening their doors and more customers being willing to start shopping in person again. How can you ensure that you get what you’re owed, but that you also handle the situation as tactfully as possible?
The answer is by working with an experienced and professional debt collection company like Nightfox Investigations. We have extensive experience in helping commercial landlords just like you recoup the money they’re owed, as well as their costs. As a landlord you’ll need a specific debt-collection strategy to ensure that the whole process is handled as seamlessly and professionally as possible. That’s where we come in, using the benefit of our experience to help tailor the strategy to the needs of both you and your tenant.
For more information, or to get started, contact Nightfox Investigations today.