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2020.03.19
The DAB met with Link REIT management early this year urging them to reduce rents for both business tenants and parking spaces. We received their replies that they would freeze the rents for car parks and cut the rents by half for nanny vans and school buses for six months starting from April to September.
DAB Legislative Councillor Wilson OR comments that these measures are “better than nothing” as only a small number of car parks tenants could be benefited. The COVID-19 outbreak has adversely affected industries across the board, not just the transportation sector. We urge the Link REIT to reduce rents for all car parks to fulfill their social responsibilities and stand alongside their tenants to navigate this difficult period together.
The DAB is very disappointed that Link REIT has no plans to reduce rents for business tenants. Wilson OR will continue to bring this up with Link REIT, the Housing Authority and divested property owners and urge:
Link REIT and its divested property owners and HA to provide 50% rent reduction for parking spaces for six months
Link REIT and its divested property owners to reduce rents for all business and SME tenants by 50% for half a year
HA to proactively intervene to ensure that the rent reductions for street markets will actually benefit stall owners directly, which means stall owners can receive 50% rent reduction for half a year.
Link REIT and its divested property owners and HA to temporarily hold those unnecessary repair or renovation work to avoid obstructing business operations.
Media Inquiries: DAB Legislative Councilor Wilson Or (9266 1035)
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