Businesses have to reveal accounts for NAMA rent discount

COMMERCIAL tenants hoping to secure rent reductions from NAMA landlords will have to lay their entire accounts bare and prove their businesses are on the brink.

NAMA has, for the first time, published a policy document on the issue. This claims to encourage the owners of property linked to NAMA loans to lower rents if jobs are in jeopardy.

This has the potential to affect €9.25bn worth of investment property loans that have been passed from the banks onto the books of NAMA.