The government will allow the owners of the shopping center to terminate lease agreements with retailers from “unfriendly” countries ahead of schedule

This will allow landlords to find new customers if they tied the rent to revenue in the contract.

The government will allow the owners of shopping centers to early terminate lease agreements with companies that stopped working in Russia after the start of the “military special operation.”

According to Prime Minister Mikhail Mishustin, tenants often included a clause in the agreement with the owner that the rent was dependent on the store’s revenue. “Now it leads to unpleasant situations. Some foreign companies, suspending work for political reasons, are in no hurry to vacate the premises.

 

The sign is hanging, but the rent does not go to the owners, because there is no revenue, ”Mishustin said.
Often this applies to large tenants, so the losses for the owners of the shopping center are “substantial,” Mishustin said. The government did not explain when the new norm will be adopted.

At the end of May 2022, the owners of Moscow shopping centers filed a lawsuit against the owner of the Reserved and Sinsay brands for 191 million rubles. The plaintiffs believe that “shops had no right to close and simply pay rent, but had to work and create traffic.”

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