Santos Knight Frank chairman and chief executive officer Rick Santos urges landlords to give rent relief to tenants to cope with the COVID-19 crisis.
One of the country's largest real estate service providers called on business and residential landlords to give rent relief to tenants amid the COVID-19 pandemic.
The leading property consultant mentioned the significance of having “healthy buildings,” where landlords check on the health and wellness of their staff and tenants.Santos recognized the immense growth of the office sector in the country, with the influx of business process outsourcing companies and offshore gaming entities.
“For landlords , I advise to look for win-win scenario," he said."Work with your tenants, rent to relief, and work on the abatements.” “It’s moving from a sellers’ market to buyers’ market," he said."Landlords can defer payments and work with tenants.” He also advised retail landlords to help their tenants in adjusting to the new normal in the retail industry.
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