Scott O'Neill

good or bad because there's just thousands of different businesses.

So I think there's this buzzword in the economy at the moment, like off the back of COVID around essential service.

I like using this term called destination type tenants where you've got to go and see them to use your products.

That business model is not dying.

In fact, there can be a lot of resilience in that sector because tenants often pay a lot of money for their fit outs.

And these are the things as a commercial investor you want to look at.

Is your tenant going to stay long term?

And if they've just spent

a lot of money on fitting their property out and they've got a five-year lease and they've got through COVID without issues, then that can be a really good asset.

But you can see there's different things to consider for different asset classes, but they're all not bad and they're all not good.

That's where it gets a bit murky and sometimes an expert opinion is probably what you want rather than the barbecue topic opinions.

Yeah, look, it's a great point.

And to sort of go back a step, most of these, I guess, remember 2022, sorry, 2020, when COVID first hit the shores, there was that, you know, March, April period where, you know, everyone was, there was so much uncertainty and

And then there's a lot of tenants asking for discounts on rent.

Some were quite opportunists, like there was some supermarket brands and pharmacy brands asking for discounts, even though they were doing quite good business.

But then what happened is they announced JobKeeper and there was some legislation around that in terms of what tenants had to show their financials and prove loss of income.

And that actually stopped a lot of, I guess, at least all the strong tenants were stopping claiming rent abatements at that point.

Obviously, then we know what happened the next year or so.

There was some lockdowns in particularly Sydney and Melbourne, which would have resulted in more tenants asking for some rent discounts.

Across the board, it's pretty light on.