Tough times for retail property landlords, tenants

Rahim & Co International Sdn Bhd real estate agency chief executive officer Siva Shanker sees many retail tenants seeking rental exclusions or even discounts during the movement control order (MCO) and beyond; and landlords either giving in reluctantly or not at all.

PETALING JAYA: Retail property landlords and tenants will need to walk a tightrope carefully over the next few months as they try to find a reasonable compromise and navigate their survival through the Covid-19 pandemic, which is wreaking havoc on the economy.

Rahim & Co International Sdn Bhd real estate agency chief executive officer Siva Shanker said he saw many retail tenants seeking rental exclusions or even discounts during the movement control order (MCO) and beyond; and landlords either giving in reluctantly or not at all.