The Washington times., 1932-10-22
REALTORS MEET
To CONSIDER
LEASES
National Association Set Up
Committee on Chain
Store Rentals

Moving to meet the serious Slt'
uation in business properties
caused by the voluntary bank,
ruptcies of several chain store
companies and the. announced in.
tention of other chains to take
similar legal steps in order to
get rid of leases which are un.
profitable, the National Associa-
tion of Real Estate Boards an
nounces an important extension
of it's activity in the field Of
commercial leasing, according to
the National Real Estate Journal.
The action is being taken by
the association upon recon-
mendation of its brokers division,
which met in Chicago this month,
to consider in detail what should
be done in the present emergency,
characterized by men most fami-
liar with the national leasing
situation to be one Of the gravest
which has ever confronted the
owner of business properties.
The association announces that
it is setting UP a special COM
mittee to be known as its com
mittee. on investment property.
In the work of this committee
the. National Association of Build
ing Owners and Managers will
cooperate.
Experts Appointed
The committee will be made. up
of men expertly familiar with
business property values and espe-
cially with chain store leasing.
1t will gather data for the in.
formation of the individual owner
of business property. and act to
stop, if possible. the threatened
tide. Of voluntary bankruptcy
liquidations through which exist.
ing leases may be disavowed.
The first work of the new body
will be an investigation of the
present situation in regard to
commercial leasing. and particu.
larly in regard to chain store leaS.
ing. 1t will follow current de-
velopments as they take place.
and disseminate information on
these developments to real estate
brokers, property managers and
owners.
Chain Stores Cooperate
Chain store. organizations will
be asked to give the committee
their full and frank cooperation.
Facts to be brought together
will include the actual present
gross and net earnings situation
of national retail business organi.
cations, and their general situa-
ton, on the one hand. and the
actual situation Of the building
owner on the other hand, par.
ticularly as to the fixed charges
he must meet. These include
taxes and interest charges.
At an early meeting of the new
committee there will come up for
discussion the possibility that
there may be formed a nation
wide emergency organization of
real estate brokers and real estate
owners who are especially inter
ested in the question involved.
Such an emergency organization
would draw together the full force
of real estate interests to act for
stabilizatfon of income values of
business properties.
Chairman Named
Frank S. Slosson, Chicago, will
be chairman of the new commit
tee. The remainder of the person
mel will be announced shortly.
Mr. SloSSon is a former chairman
of the property management di-
vision of the National Association
of Real Estate Boards and is ac-
tive in the work of its brokers'
division. He Is also vice president
Of the National Association of
Building Owners and Managers
and is chairman of a special COM
mittee of that organization now
making a detailed study of per.
centage lease rates which various
types of retail business can afford
to pay.