Landlord asking for accounts

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    Landlord asking for accounts

    I'm trying to negotiate a rent plan for my shop, but my landlords agent has asked for my accounts for the previous 2 years. I've been at the property for over 20 years, no problems paying rents etc. This new landlord took over 3 years ago, again no problems paying rents etc. Until the virus hit.

    I don't understand what the previous 2 years accounts has to do with the current pandemic. How is it relevant to the situation now? Could any landlords out there give me an idea why my landlord has asked this?

    FYI I'm dealing with a large property investment company. They have all sorts of property including an outdoor market, so a lot of short term tenants.

    #2
    They may need to review and update there leaseholders information that they hold for insurance, mortgage or general due diligence reasons. The reason why they would see your previous years is too see if you were making a loss each year or in profit. They can not see into the future so all checks are done on a historic basis. For example asking for your wage slips or bank statements.

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      #3
      The landlord owns the property, not the tenant's business. The landlord can ask but is not entitled to see your accounts. By the same toke, you are not entitled to a rent plan. As only the landlord can agree a variation to the rent payment arrangements, I'd have thought whether from your point of view you consider it relevant to provide your accounts for the past 2 years irrelevant.

      Likely the landlord wants to check wether your request for a rent plan is a ploy or justifiable.

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        #4
        Do you have a ltd company hop?

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