Survey finds landlords are flexible over retail rent

Retailers are negotiating rent cuts of up to 30% with their landlords, according to a survey conducted by the Irish Auctioneers and Valuers Institute.

The IAVI reports over 90% of landlords describing themselves as flexible on renegotiating rent and details 144 cases where tenants have secured a decrease in rents of between 10 and 30%.

The Irish Auctioneers and Valuers Institute had conducted the survey among its members who represent both sides.

President of the IAVI Aine Myler says if tenants are having difficulty paying rent, they should contact their landlord.