This end of financial year will be like no other. Businesses across the world are beginning to feel the true financial impact of this crisis as the need to cut costs becomes more vital than ever before.
In this rapidly evolving marketing, organisations are forced to adapt and make swift changes in order to protect themselves financially. For many businesses, the largest expense is real estate. Rental expenses remain a key area to consider in cutting costs and it is not too late to maximise rental savings at this stage. There are 2 ways you can take action on this right now:
1. FINALISE RENTAL RELIEF WITH YOUR LANDLORD
In Victoria, workplaces have been instructed to continue working from home. As office spaces remain empty, and businesses continue to cut costs, there is still time for tenants to request rental relief from landlords. If your business is experiencing a significant decline due to COVID-19 and you haven't had a conversation with your landlord, it's not too late!
BRM has developed a 3 STEP PROCESS to help you get started or continue your rental relief discussions with your landlord. The process involves useful templates and guidance from our expert property team that will assist you in getting the support you need.
2. AUDIT YOUR LEASE AND RECONCILE YOUR RENTAL INVOICES
By auditing leasehold expenses, you ensure that the charges billed to you are accurate and in compliance with your lease terms. Lease Auditing has never been more important than in the COVID crisis as businesses strive to maximise their savings.
All financial considerations will be examined, as part of a professional audit, to uncover hidden savings and determine whether you are paying more than is legitimately due.
BRM's expert Property Team is on hand to assist you in cutting rental costs for your business. Get in touch with us to arrange a helpful chat.
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