Chan Chun Sing slammed landlords for being "very short-sighted" by not passing on savings from tax rebates to their tenants.
This was after the Restaurant Association of Singapore (RAS) released a statement detailing their disappointment with landlords who have yet to fufill their promises of rental rebates to their tenants after receiving tax relief from Budget 2020.
Chan reminded the landlords of the symbiotic relationship between them and their tenants.
“And I will say this to the landlords: The relationship between the landlord and the tenant is a long-term relationship. When the tenants do well, the landlords do well. When the landlords do well, they need to share it with the tenants. Only so, can we continue to do well as one team Singapore.”
Has Chan put himself in the shoes of the landlords?
They are similarly under pressure. Hence, the tax relief. It is unrealistic to expect the landlords to pass on the savings to their tenants.
They need to survive. Tenants can come and go. Many are contracted for relatively short periods.
The challenges, for the landlords, are not exactly the same. If landlords have to close, then their tenants will also face an uncertain time.