| UK OCCUPIER SATISFACTION INDEX 2009 |
PROPERTY INDUSTRY ALLIANCE AND CORENET GLOBAL UK |
| Home : Qualitative findings : Summary by question | |
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While some occupiers perceive that the property industry is responding to the recession by becoming more realistic and offering greater flexibility, others believe that the industry is adapting too slowly and is still too inflexible. |
| Some occupiers believe that property suppliers are being more realistic in the current economic climate |
'It's getting a lot better. Landlords are being more realistic, and they recognise the value of having a tenant like us who is likely to weather the downturn.' 'It is now a buyer's market so we can obtain what we want much more easily.' |
| Some think that property suppliers are showing greater flexibility |
'Landlords are more willing to make concessions.' 'There is more willingness from landlords to be flexible but this is only due to the current market.' |
| Retention has become more important to property suppliers |
'Due to the economic climate landlords are placing greater emphasis on retaining tenants and maintaining rental income rather than rental growth.' 'I think that this is a reflection of the economic climate as landlords are now being more flexible. They are now focusing more on security of income rather than squeezing every last penny.' |
| Some occupiers believe, however, that terms will become less favourable when the economy picks up |
'It is considerably better but the climate will completely reverse when the economic climate gets better and landlords will be back to their old tricks.' 'In the current economic climate there's been a window of opportunity and there's been a change of rationale in the market place. However, occupiers need to stand firm if these changes are to become permanent.' |
| The industry is adapting too slowly for some |
'It is on the cusp of changing. I expect this to improve soon, but the property industry has been slow to react to changes in the economic situation.' 'It's taking time to filter through.' |
| Some property suppliers are still resistant to the changing market |
'Landlords are not reacting to the market and are keen to continue issuing leases that are not in kilter with the economic downturn.' 'I find UK landlords are generally in a mindset applicable to 30 or 40 years ago. They are completely inflexible with service charges, insurance, repair obligations and so on.' |
| Occupiers will be driving a harder bargain |
'Basically, if we don't get what we want, we won't sign the lease. We aren't under any pressure to take on more properties that don't meet our requirements.' 'I have a very clear directive from the board to improve on rental terms, so I will be expecting to see rents fall or we won't be taking the units.' |
| There is greater flexibility outside the UK | 'It's fairly unsatisfactory. We have to pay through the nose to get more flexibility on a lease. Elsewhere in the world a short or medium lease is the norm. Here you have to pay a premium for it.' |