WAYS OF FOSTERING AND MAINTAINING A GOOD WORKING RELATIONSHIP BETWEEN LANDLORDS AND TENANTS IN SINGAPORE RETAIL MARKET

Abstract

As the saying goes " Harmony promotes prosperity". Therefore, it is critical to have a good working relationship with your counterparts. A good working relationship between landlords and tenants is critical to the success of a shopping centre. In Singapore retail market, fostering and maintaining a good working relationship between the landlords and tenants is a much debated issue. Inspite of the consensus between landlords and tenants on the importance of a good working relationship, the level of cooperation is far from desirable. Therefore, the study is aimed at identifying various methods of fostering and maintaining a good working relationship between landlords and tenants. After the literature review and analysis of the survey data, the study found that the root cause of the problem is the distrust between landlord and tenants. To resolve the distrust, policies like percentage lease arrangement, tenant representation , creation of a good public relations between tenants and the landlords, and setting up feedback channels, can be used as vehicles to overcome this distrust.