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One of the consequences of recession is the pressure that landlords face from tenants seeking to drive down rents. As landlords need to try to maintain headline rents, to shore up the value of their investment, their response to such pressure will often manifest to offer a range of inducements and concessions.

The difficulty that landlords then encounter is how to formalise such arrangements in a way which keeps them "behind the scenes", so as to minimise the risk of the detrimental knock-on effect on other rents. A rent free period agreed on review or re-gear, gives rise to the risk of other tenants wanting similar deals. And the tide of such deals has a significant impact on the market generally.