What would people here do in this type of situation, would you take the tenant's offer? We have a property in Glebe, near the CBD which is rented out to the same tenant (a family) for 6 years. They were paying in the low $800's per week and on a periodic lease. Our tenant previously lost their job 2 months ago due to COVID-19, a new job (on probation) therefore not eligible for JobKeeper as apparently he wasn't re-hired. When he lost his job he emailed the agent (with his employment termination letter) that they would either need to vacate & move to a cheaper apartment as they do not know how long this will go on for or offered $180/week less until they can find work again or this situation is resolved. We accepted the offer as we didn't want to lose a tenant during these times. Agent followed up with him and tenant said he's interviewed for a role & it's progressing well. He also said "Obviously market dynamics have changed, therefore can you please ask the owners post recommencement of employment we would be willing to sign a 12 month lease" at $80/week less than the original low $800's per week. Our agent said they are advising all landlords to negotiate for new leases to keep all current tenants as leasing during this time is quite difficult. They have properties for lease and within the last week over 300 additional properties have been listed online. They suggest to accept the tenant's offer but at a 6 months lease rather than 12 month. If we re-sign a new lease the agent will charge 1 week's rent, which is a lot considering it takes a few minutes to fill in a few boxes on the page and they are already getting a monthly management fee and monthly statement fees. What do people here think of all this?