Many tenants are seeking rent free, reductions, deferrals etc and this can place significant pressure on landlord cash flow. Some of these may be justified, others not, or not fully. Hallmark has extensive experience collecting rent on behalf of landlords, whilst maintaining a healthy tenant relationship. Click here for recent Covid-19 example.
Asset Management (Lease renewals, rent reviews, surrenders etc)
These are extremely challenging in the current tenant-biased market. However, Hallmark has much experience obtaining positive outcomes in negotiations with tenants and agents, even during difficult market conditions. Click here for recent Covid-19 example.
The impact of Covid-19 on both rental arrears and valuations has caused many landlords to risk breaching loan covenants. Since the 2008 global crash, Hallmark has negotiated many successful conclusions with banks, on behalf of landlords in difficult positions, in a number of cases utilising out-of-the-box thinking.
Although there is no Covid-19 protection for tenants regarding service charges, tenants may still seek reductions or deferrals due to their trading difficulties. Hallmark can manage all, or part, of the service charge invoicing and collection process using its in-house team.
Hallmark can advise on business rates mitigation and arrange inspections to comply with insurance obligations and reduce risk of damage.