Issa Asad Reveals How to Do Business Negotiations During a Crisis

During this pandemic created by the coronavirus (COVID-19), when so many businesses were forced to shut down, and individuals were forced to stay home from work, a situation occurred to millions that they were ill-equipped to face… not being able to pay their rent or mortgage payment (rent). There have always been some who have struggled with this problem, but not to the extent that we are at today, and not to where the government has stepped in and clearly stated people cannot be evicted while the pandemic is in effect.

This situation leaves a gap between what needs to be paid in rent and what the rental agencies, mortgage companies and landlords (landlords) are able to collect. Clearly it is an interesting time.

“Getting further behind in rental payments is dangerous because the pandemic will end and then eviction notices can be processed,” said Issa Asad Florida entrepreneur, businessman, and social media expert. Mr. Asad is the CEO of Q Link Wireless, Hello Mobile, and Quadrant Holdings, all located in South Florida. He is also the author of 4 e-commerce and marketing e-books that can be purchased on Amazon.

Thus, it is better now to work out a negotiated arrangement that you can live with and that your landlord can accept than it is to push the envelope on this situation and create hard feelings that can last indefinitely.

Here, Issa Asad Reveals How to Do Business Negotiations During a Crisis:

Where to begin?

First know what your budget will allow. Is it a situation where nothing is possible now and maybe a balloon payment could be paid in several months? Or is it something where half of your rent could be paid now with the remaining paid later? Your budget needs to be laid out on paper so that you can speak directly to it if your landlord asks you questions.

It could be that your unemployment checks haven’t started coming in yet, but when they do, you can begin making payments. Landlords have heard through the news, just like the rest of us, that phone lines to the unemployment offices are jammed with callers, so believing your story won’t be a problem.

Do some research

Check around with some friends, neighbors, or co-workers to find out if anyone else has done anything similar with regard to negotiating their rental situation. This can be something you can bring up to your landlord in a calm tone when talking with him/her.

• Know as much as you can about your financial situation as possible:
• When can you start making regular payments again?
• Would you be willing to pay interest on the back payment if asked to?
• Would you be willing to sign a contract for what you are agreeing to?
• Who is the best person in the landlord’s company to contact?

What to say?

Maintain a cool head when you speak with your landlord about the situation. Realize that they probably have someone they need to make payments to. Slowly explain your situation. Offer that you have some suggestions if they have the time to listen. Generally, they will listen. They don’t want to have an empty building, home, or apartment any more than you want to move at this time.

If you have a business, offer to them what your marketing plans are for getting past the coronavirus pandemic. Maybe you are giving your customers special terms with balloon payments due in 60 or 90 days. Perhaps you are opening up an online store to pick up the slack that has been lost since you had to close your front doors and you are starting to see new revenues from that. Maybe you are getting into the delivery business to keep your business progressing.

Have a dialogue, not a one-sided conversation

Ask open ended questions, not questions that will get a simple yes or no response.

Ask…

• What kind of relief plans there are to be offered?
• What has been working with other customers in similar situations as you?
• What does he/she think of your suggestion(s)?
• Can he/she think of anything else you can do in your situation?

In Summary

Let your landlord know you appreciate the situation he is in and you hope he can appreciate yours. In trying to negotiate and relieve the current rent situation, you are salvaging a very important business relationship. By stepping up to the plate and being proactive, you will have removed a lot of stress from your landlords and your shoulders.

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