The landlords of some of the UK's largest commercial property businesses have joined forces and created a union, seeing as no one else in the country has many nice things to say about them.
The Landlords Union has two huge problems at the moment; that the government's emergency coronavirus regime is letting tenants off the hook for rents owed, and that the banning of "aggressive tactics" to collect debts is gradually reducing the number of millions the collective of retail and business property owners have at their disposal for things like buying yachts, football clubs etc.
The Union says: "We think the government has opened the door to nationalising rent and has used landlords to underpin the cost of the commercial property support for tenants. The vast majority of landlords want to help those tenants who so desperately need it... but the government's moratorium has allowed certain unscrupulous tenants to undermine this."
It is almost possible to see their point – although we shall continue refusing to do so – as some businesses that have continued trading through the lockdown have said they won't be paying their full rents, including the likes of Travelodge, Pizza Express, Boots and Poundstretcher. The landlords are also not happy at having to assist the likes of bookmaker Coral, as gambling firms are about as popular as the property speculators.
James Burchell, who runs Tellon Capital and owns and lets offices, said. "They are shamelessly hiding behind the government's best intentions instead of adopting a 'we’re all in this together' approach." [Business Matters]
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