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The key to better business

A NEW kind of working relationship has emerged between landlords and tenants.

The relationship, which in the past was seen as a constant struggle between landlords and tenants, has changed into one where both parties are intent on ensuring the success of a business.

This was due in part to landlords educating themselves on the way their tenants run their businesses, according to Mirvac-Fini Real Estate general manager Jim Tsagalis.

“Landlords are becoming more aware of the way retailers are running their businesses from a financial point of view,” Mr Tsagalis said.

And this communication and understanding was even more important when there was more than one tenant to deal with.

“To have a successful shopping centre landlords must know what the other side needs to make it … you can’t have a shopping centre without tenants,” Mr Tsagalis said.

“There are obviously going to be agreements and disagreements, but there must be dialogue.”

Manager of jeweller Simply Gold, Debbie Ortiz, agreed things had definitely changed in the years she had been running her store.

“Landlords and centre managers are communicating more, they are listening to us,” Ms Ortiz said. “They don’t just show up and collect the rent and leave and that’s it until next time. They ask us about the business.”

WA Retailers Association chief executive officer Martin Dempsey said a good understanding between landlords and tenants was important, especially during times of hardship.

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