26 March, 2020
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The letter calls for two potential solutions for helping those who need rent relief:
Rent holidays: providing a window of time where renters are exempt from rent payments, though I recognise the supply chain is long here and this may put landlords in a difficult position despite mortgage breaks from the banks.
Partnership model: A partnership model where renters, landlords and government each bear some responsibility for the cost in a time limited fashion. Such a partnership would entail the Government underwriting one third of commercial rent, the business continuing to be responsible for one third of the rent, and the landlords contributing to one third of the rent while the coronavirus restrictions remain in place on that industry.