How Do Your Business Cope With Shop Rent Increment

[kayode10]

Continous increase in price is one of the major problems facing small scale entrepreneurs. I think the reason for this is that the government do not regulate the real estate industry and this gives the investors to do whatever they like by hiking the cost of rent.

 

[Snazzy001]

The shop rent increament may affect most people though, but it is still a common thing amongst us all.it is a very rare increament, but tenants should seek justice in court if it is too much to bear

 

[Jlife]

You do not have any other option than to pay and I think if that does not favour you you really need to move out to somewhere else because that is what most of the shop tenant over here ve been saying, you really need to pay if you know your business is profitable there.

 

[Alexandoy]

You do not have any other option than to pay and I think if that does not favour you you really need to move out to somewhere else because that is what most of the shop tenant over here ve been saying, you really need to pay if you know your business is profitable there.

Some of the businesses that I saw to have closed before the pandemic was due to the high rental. The annual increase if 20%. Business owners said that they were just like giving the profit to the landlord so they might as well close shop or move to another location where rental is mild.

 

[Kelly5]

I guess those running the offline business are to be the ones to tell us their experiences. Because as we know, rentage increase also affects shop tenants too as it does with house tenants

 

[Psalmseen]

This shop increment is too common on this part of the world, especially, here in Nigeria. It's definitely not easy to cope with such because it will affect the financial part of the business

 

[Peterlight]

There will always be a rent increase because of the way things are increasing in prices. You can't expect a house rent to always be the same, things will change especially if that environment is very developed.

I would advice you to adjust to it if the place is good for business

 

[babdud02]

There’s no any other way business will cope when the price of shop is increased than also increasing the price of products you’re producing or selling in the shop

 

[eLdavis]

Then complains should be made, if there is a periodic increase in rent and there is never any renovation or improvement in the property, then i see no need as to why there should be an increase. The ternants should have a word with the landlord

 

[Kelly5]

This shop increment is too common on this part of the world, especially, here in Nigeria. It's definitely not easy to cope with such because it will affect the financial part of the business

These are one of the factors one need to put into concideration most times when thinking of renting a shop to start ones business. The landlords can get you bankrupt with their rentages

 

[Jlife]

Some of the businesses that I saw to have closed before the pandemic was due to the high rental. The annual increase if 20%. Business owners said that they were just like giving the profit to the landlord so they might as well close shop or move to another location where rental is mild.

The landlord should have considered them during that challenging time, some people could be so heartless that they increase the rent even during the pandemic period when they know very well that people were not able to run their business successful.

 

[FreshKaz11]

My mother manage a small business in a shop for like 20 years now. Every year since 2013 the landlord of the shop has always been increasing the rent without carrying out any renovation on the shopping complex where my mother has her shop.

There was a time the roof of the shop was damaged by wind, the landlord refused to repair it. We had once considered changing her shop but the fear of losing her customers made her not to do so. How can she cope with the yearly shop increment?

Those who rented the shop won't suffer for the increase in shop rent,but the customers patronizing the shop owner because most of the products would get high as well.

 

[Sotherefore]

A business supposed to grow every year to cope with the rent increase,but if a business is not capable of coping with the rent increments that means the business is not improving, for me I do not have a business now.

 

[Chibson]

If the shop is in a good location which probably means that the business will be to pay for the rent even if it is increased by the landlord.

 

[Emmado]

I don't have an offline business and I am not interested to have an offline business because I don't like the issue of paying rents every year, that is why I am trying to get a business online that can give me a reasonable amount of money every month.

 

[Alexandoy]

A business supposed to grow every year to cope with the rent increase,but if a business is not capable of coping with the rent increments that means the business is not improving, for me I do not have a business now.

If the location is not very profitable for the business that an increase in rent will be a burden then the best move is to transfer to another location that has a cheaper rent. In business the rental is a big factor for the profitability so you should be aware of the increase.

 

[Delight]

I do not have a Private business I am engaging into now, but I am planning to get one as soon as possible and I will always make sure I grow my business the point that if they rent increases ,it won't bother me.

 

[Ralphjoe]

There is absolutely nothing you can do when there is such an increase in rent. It is his land and he can charge any fee for rent. If your mom is not making money that is enough handle the rent, then looking elsewhere for a new shop is good.

You have just nailed the nail on the head without mincing words and this is the absolute truth that he should know because if you cannot pay for the new rent then there is nothing he or she can do other than to look for another place where he can afford the rent.

 

[Sotherefore]

If the location is not very profitable for the business that an increase in rent will be a burden then the best move is to transfer to another location that has a cheaper rent. In business the rental is a big factor for the profitability so you should be aware of the increase.

Proper planning in a business is very necessary, because with proper planning, you may not be able to get a shop in a location that will not be profitable, you will analyse the geography of the location that you should set your business.

 

[kay169]

Before I pay for a shop or rather rent a shop we are going to sign papers and I will carefully read the terms and conditions in the paper so that I won’t have problems with increment