During this time, as entrepreneurs, we need to creatively rethink our business models, which means looking past even our fixed costs. At the moment, you can increase your profit margins in various ways, including exploring how to lower your utilities, rent, or mortgages. With these simple techniques, you may be able to decrease your fixed costs, enabling you to focus on increasing sales and growing your company.
Use the Communication Channel Most Convenient for Your Landlord
If you’re working with a business that maintains multiple buildings, email might be your best option. With this channel, the discussions are documented word for word. For small property management businesses, consider how they’ve communicated with you in the past. Calling or emailing does not put you at a disadvantage, but a face-to-face conversation or video call helps both parties convey body language, emotion, and empathy.
Be Polite and Ready to Make Your Case
Remember, whether it’s a corporation or a single person you’re renting from, they’re people who are working through this situation, too. Conveying mutual concern for you and your landlord incentives them to be flexible and willing to adapt to our economic situation. However, you need to have all your information readily available to email or share with your landlord. Gather your rental history, credit score, and other financial information to help your argument. Additionally, find out what other landlords are doing to help their tenants. If there is a similar space lowering their rent, asking your landlord to match it or do something similar is a reasonable offer.
Your credit score and debt are crucial when making a case with your landlord. If you need help strengthening your credit during the pandemic, reach out to The Credit Clinic and Take Charge America. If you’re an AFEUSA member, get your exclusive discounts for both of these services through your AFEUSA account.
Article by Charles Jackson, President of AFEUSA