Time of reckoning for landlords

Condominiums in areas such as in the vicinity of Kuala Lumpur City Centre and KL Sentral used to command rentals of RM6,000 and above per month some five years ago. Now it has dropped by as much as 50% due to the over-supply and lack of tenants with means to pay high rents.

THE owner of a double-storey corner shoplot got the response he had just expected from his long-time tenant last week. The tenant, who runs a tyre-shop catering for cars and commercial vehicles, said he was unable to pay his monthly rental of RM6,500.

The tenant asked for a 50% discount on the account of business slowing down since March 18 after the imposition of the Movement Control Order (MCO).