BRC: Retailers should have monthly rent option

Date: 29th March 2010

British retailers should be given the option to pay their rent on a monthly basis, according to one industry body.

The British Retail Consortium (BRC) has said the move could provide businesses with a route to recovery from the effects of the recession.

Richard Dodd, a spokesperson for the organisation, said: "We think that landlords should be prepared to show flexibility on that and should be prepared to offer monthly terms even on existing leases."

It follows a recent pledge from the British Property Federation that it will increase its support for businesses during the economic downturn.

Along with a host of major landlords, the organisation has vowed to be more flexible with tenants to help them through difficult times.

Mr Dodd added: "We're not saying that they should be able to pay in arrears, we still accept the principal of paying upfront, but we think that in this modern age, paying monthly should be perfectly acceptable for landlords."