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Open Access
Article
Publication date: 18 July 2023

Berndt Allan Lundgren, Cecilia Hermansson, Filip Gyllenberg and Johan Koppfeldt

The purpose is to increase knowledge of rent negotiations by investigating differences in beliefs held by property landlords and retailers on factors that they deem important in…

Abstract

Purpose

The purpose is to increase knowledge of rent negotiations by investigating differences in beliefs held by property landlords and retailers on factors that they deem important in rent negotiation.

Design/methodology/approach

This study investigates differences in subjective beliefs held by landlords and retail trade tenants on factors that affect rent levels during the rent negotiation process using a factor analysis approach. Semi-structured interviews were made with seven large real estate owners/landlords and retailers and eight experts in negotiating retail rent to elicit variables that have an impact on retail rent. Thereafter, a web-based survey was sent to 421 respondents who had experience in rent negotiation. Several factors were extracted using factor analysis. The data collection was made in Sweden during the coronavirus disease 2019 (COVID-19) pandemic in late spring 2021

Findings

Significant differences are found in beliefs held by landlords and retail trade tenants in four out of seven-factor: regional growth, e-commerce, customer focus and trust. Landlords rate these factors higher than retailers do. There are also systematic differences between landlords and retailers depending on their education levels on the following factors: rent and vacancies, e-commerce and customer focus. The number of years of experience did not prove to be significant instead differences are found to exist in factors

Research limitations/implications

Not only do traditional factors of importance, such as lease structure, the effect of location, size and anchor or non-anchor tenants, have an effect on negotiated rent levels. Differences in other factors also exist, such as regional growth, e-commerce, customer focus and trust factors that may play an important role in the negation of retail rent.

Practical implications

The findings provide new insights into the different views on factors that affect rent negotiations between landlords and retail tenants. Knowledge of such differences may increase the overall transparency in the negotiation process. Transparency may be increased by putting forward information on these factors before a negotiation takes place, in order to smooth differences in their beliefs.

Social implications

If transparency in the negotiation process of retail rent increases, time to reach an agreement, stress and anxiety can be reduced by putting forward information on factors where differences exist between landlords and retailers

Originality/value

New insights on retail rent negotiation have been put forward in this research paper. Not only do traditional factors such as lease structure matters, but subjective beliefs on factors such as regional growth and the level of education are also important, as this study has shown using a factors analysis approach.

Details

Journal of European Real Estate Research, vol. 16 no. 2
Type: Research Article
ISSN: 1753-9269

Keywords

Open Access
Article
Publication date: 10 August 2022

Job Taiwo Gbadegesin

The purpose of this paper is to investigate how the pandemic affects tenants’ response to their lease obligations. This paper commences with examining the adopted tenant selection…

1358

Abstract

Purpose

The purpose of this paper is to investigate how the pandemic affects tenants’ response to their lease obligations. This paper commences with examining the adopted tenant selection criteria during the COVID-19 pandemic. Then, this paper statistically tests if there is a relationship between selection criteria and response on whether the pandemic has effects or not. Then, this paper investigates the specific areas of impact on tenants’ ability to adequately keep to lease agreements in the Nigerian rental market. Finally, this paper proceeds to confirm if there is a relationship between selection criteria and the aspects of tenants’ deficiencies in rental obligations because of COVID-19.

Design/methodology/approach

Survey data, backed with interviews, is elicited from practicing estate surveyors and valuers and licensed property managers in Lagos, the largest property market in Nigeria and sub-Sahara Africa. Policy solutions and implications were solicited from personnel at the ministry of housing and senior professionals in the property sector. Data were analyzed using descriptive statistics, factor analysis and computer-aided qualitative data analysis, Atlas.ti.

Findings

Tenant’s health status is now accorded a priority together with others. Numbers of tenants are challenged with keeping to the prompt-rent-payment rule. Other areas of slight breaches included livestock rearing, subletting, alteration and repair covenants. Except for tenant reputation and tenant family size, there was no significant relationship between tenant’s health status consideration and the COVID-19 effect on tenant non-compliance with lease obligation. Tenants’ non-compliance with tenancy obligations has a connection with the tenants’ affordability, reputation, ability to sign an undertaking and health conditions during the pandemic. This paper recommends rental housing policy review.

Practical implications

It is recommended that the rental policy should be reviewed to give room for rental allowance or palliatives, private rental market regulation, exploration of the national housing fund and, if possible, social housing adoption policy in Nigeria.

Originality/value

This paper draws policymakers’ attention to the need to prepare for the future safety net that caters to citizenry welfare in challenging times.

Details

Journal of Facilities Management , vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1472-5967

Keywords

Open Access
Article
Publication date: 10 July 2023

Elena Anastasiadou, Jimmie Röndell, Magnus Berglind and Peter Ekman

This study aims to offer a mid-range theory conceptualization of factors central to understanding and facilitating business actor engagement (BAE). Reports on a study of real…

Abstract

Purpose

This study aims to offer a mid-range theory conceptualization of factors central to understanding and facilitating business actor engagement (BAE). Reports on a study of real estate companies and their sustainable development goal (SDG) driven business initiatives. The aim is to identify the factors that need to be in place to facilitate positive engagement amongst actors in business-to-business (B2B) settings.

Design/methodology/approach

A case study of real estate companies (landlords of business premises) and their business customers (tenants of offices and warehouses) – comprising interviews and workshops – offer insights related to the factors that need to be in place to facilitate BAE types and outcomes.

Findings

The identified central factors of BAE – needed to understand and facilitate positive engagement to unfold – are the actors’ perception of: willingness (to act), resourcefulness (to contribute and solve issues) and influence (to affect decisions) regarding solutions related to the business initiative at hand. Failing to facilitate these factors may result in negative outcomes of BAE where “engagement” merely constitutes perceived obligations and responsibilities.

Research limitations/implications

The study offers theoretical and managerial insights on how to manage the factors needed for BAE. It also sheds light on how actors can use SDG-driven business initiatives to achieve sustainability goals.

Originality/value

It contributes to the concept of BAE, by emphasizing the dynamics of engagement, from the motivational and behavioral dimensions specific to B2B settings. It offers insights how to managerially cogovern rather than control BAE. It presents central factors needed to include and capacitate customers, facilitating successful implementations of SDG-driven business initiatives to reduce absent or negative outcomes.

Details

Journal of Business & Industrial Marketing, vol. 38 no. 13
Type: Research Article
ISSN: 0885-8624

Keywords

Open Access
Article
Publication date: 6 June 2022

Peter Karpestam and Peter Palm

The authors investigate how prices of condominiums are affected by the size of the tenant-owner associations that they belong to.

Abstract

Purpose

The authors investigate how prices of condominiums are affected by the size of the tenant-owner associations that they belong to.

Design/methodology/approach

The authors use data of sold apartments in the Swedish municipality Malmö 2013–2018 and estimate hedonic price regressions. The authors also perform semi-structured interviews with three senior professionals in real estate companies.

Findings

The authors find significantly negative relationships between the prices of condominiums and the size of tenant-owner associations. Also, regression results indicate that associations should be no smaller than 6–10 apartments. The interviews support that associations should not be too small or too big. The lower and upper limit was suggested by the respondents to 40–50 and 80–150 apartments, respectively. In these ranges, economies of scale can be achieved, and residents will not lose the sense of community and responsibility.

Research limitations/implications

The authors do not prove causality. Smaller associations may have relatively exclusive common amenities, about which we lack data. The same relationships may not exist in different market conditions.

Originality/value

The authors are not aware of previous studies with the same research question. The size of tenant-owner associations may affect the price through different channels. First, several of the banks in Sweden do not always grant mortgages for condominiums that belong to small associations. Second, larger associations may have better economies of scale and more efficient property management. Third, homeowners may prefer smaller tenant-owned associations, because they may feel less anonymous and provide more influence on common amenities.

Details

Journal of European Real Estate Research, vol. 15 no. 3
Type: Research Article
ISSN: 1753-9269

Keywords

Content available
Article
Publication date: 1 May 1998

612

Abstract

Details

Journal of Property Valuation and Investment, vol. 16 no. 2
Type: Research Article
ISSN: 0960-2712

Keywords

Content available
Article
Publication date: 1 August 1998

P.F. Smith

374

Abstract

Details

Journal of Property Valuation and Investment, vol. 16 no. 3
Type: Research Article
ISSN: 0960-2712

Keywords

Content available
Article
Publication date: 24 April 2009

Malcolm Dowden

316

Abstract

Details

Journal of Property Investment & Finance, vol. 27 no. 3
Type: Research Article
ISSN: 1463-578X

Content available
Article
Publication date: 1 August 2000

Nabarro Nathanson

160

Abstract

Details

Journal of Property Investment & Finance, vol. 18 no. 4
Type: Research Article
ISSN: 1463-578X

Open Access
Article
Publication date: 4 April 2022

Sami Ullah, Abdul Sami, Tooba Ahmad and Tariq Mehmood

Technology parks (TPs) are used as a tool to improve economic outlook of the region through innovation generation. This study aims to evaluate the perception of tenants of TPs to…

1366

Abstract

Purpose

Technology parks (TPs) are used as a tool to improve economic outlook of the region through innovation generation. This study aims to evaluate the perception of tenants of TPs to determine the gap in the expectation and identify types of firms preferring to locate in a TP.

Design/methodology/approach

This is the first study in Pakistan to collect data about perceived benefits of TPs in Pakistan from the decision-makers of 110 tenant firms. The cluster analysis and lift ratios are used to draw statistical inferences.

Findings

The firms can be classified into three clusters – commercial-orientation firms, science and technology-oriented firms and young tech firms – with distinct needs for survival and growth in a TP. Moreover, TPs should not just be treated as property projects for providing support services, also knowledge sharing, training and development opportunities and proximity to hubs of knowledge and markets is vital to attract a variety of industry.

Originality/value

Academia and policymakers have been equally interested in the potential impacts of these innovation hubs. However, there have been lack of empirical evidence on how and what to offer the incumbents of these TPs. The government of Pakistan is trying to build more TPs for promoting business activities under CPEC. Therefore, it is extremely important to determine the needs of tenants of TPs for successful utilization of huge amount of public money to be invested in TPs.

Details

Innovation & Management Review, vol. 20 no. 4
Type: Research Article
ISSN: 2515-8961

Keywords

Abstract

Details

Journal of Property Investment & Finance, vol. 30 no. 4
Type: Research Article
ISSN: 1463-578X

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