In the bustling city streets, it's not uncommon for strangers to exchange stories, but the tale shared between one of our directors and his Uber driver highlighted the stark reality of an unfavourable lease's impact on a small business owner's life.

On a typical weekday, our director hailed an Uber to take him across town. Little did he know that this ride would remind him of the importance of securing tenant-friendly lease terms. The driver, a middle-aged man, greeted him as he stepped into the car. As they exchanged pleasantries, the conversation turned towards the driver's past as a restaurant owner.

For years, the driver and his family had run a successful and beloved restaurant, the kind that had regulars who knew them by name. It was their dream business - the result of dedication, and the family's sole livelihood.

Then, the pandemic struck, and like countless businesses worldwide, the restaurant faced unprecedented challenges. Faced with lockdowns and social distancing measures, the driver and his family did their best to adapt, switching to take-out and delivery services to keep the business alive. However, the lease terms on their restaurant premises were far from tenant-friendly. The rent remained unchanged, and there was no provision for rent reduction in the event of unforeseen circumstances.

As the months wore on, it became increasingly difficult for the driver and his family to make ends meet, let alone pay the rent for their restaurant. Desperate to save their business, they reached out to their landlord in hopes of renegotiating the lease terms to something more manageable given the new reality they faced. Unfortunately, the landlord was unwilling to budge, and as a result, the driver's family was forced to close the doors of their once-thriving restaurant.

Now, to make ends meet, he spends his days and nights behind the wheel of his Uber. 

This heartfelt exchange with our director is a sober reminder of the real impact an unfavourable lease can have on small business owners and their families.

At LPC, we are unashamedly biased towards commercial tenants in an industry largely controlled by landlords. Stories like this strengthen our resolve to fight for more tenant-friendly lease arrangements, advocating for businesses and families who bear the brunt of an imbalanced power dynamic.

The truth is, the story of this Uber driver is not an isolated one. Many small business owners have faced similar fates due to unfavourable lease terms during times of crisis. By sharing this story, we hope to emphasise the importance of securing tenant-friendly leases and the real-world consequences that arise when the balance of power remains in the hands of landlords.

About LPC & the LPC subscription service

LPC provides office, retail, and industrial occupiers with advice and services that benefit their accommodation arrangements and respective businesses. With no ties to investment property owners or leasing agents, we only represent occupiers, and our advice is free from any conflict of interest that would disadvantage an occupier. Our purpose is to help commercial occupiers optimise their accommodation and tenancy arrangements. You will find the LPC subscription service helpful when identifying key terms for renegotiation and getting to the lease you deserve.