{UAH} City landlords waive rent arrears for tenants
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8:26 AM |
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City landlords have waived rent arrears for tenants who have been struggling to pay because of the lockdown effects.
The decision by the owners of arcades and malls came after a number of traders started leaving the buildings in the city centre to operate shops in city outskirts.
According to Kampala City Traders Association (Kacita), traders are failing to keep their businesses afloat because of low purchasing power.
Mr Haruna Sentongo, a city landlord, told Daily Monitor on Saturday that he tried to engage his tenants to pay their rent arrears but they failed.
"I have lost more than a billion shillings because the economy is bad and businesses are down. I have forgiven tenants rent arrears worth Shs1 billion for the past six months, from May to October," he said, adding that chasing tenants is not good for business.
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-- The decision by the owners of arcades and malls came after a number of traders started leaving the buildings in the city centre to operate shops in city outskirts.
According to Kampala City Traders Association (Kacita), traders are failing to keep their businesses afloat because of low purchasing power.
Mr Haruna Sentongo, a city landlord, told Daily Monitor on Saturday that he tried to engage his tenants to pay their rent arrears but they failed.
"I have lost more than a billion shillings because the economy is bad and businesses are down. I have forgiven tenants rent arrears worth Shs1 billion for the past six months, from May to October," he said, adding that chasing tenants is not good for business.
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"When a man is stung by a bee, he doesn't set off to destroy all beehives"
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