Sri Lanka’s famous influential politician, former Member of Parliament Sajin De Vass Gunawardena in a status on his facebook profile recently stressed that Regus PLC’s Sri Lanka branch is arbitrarily charging rentals from customers and requested Board of Investment (BOI) and relevant authorities to look into regulating the companies involved in renting work spaces and residencies in Sri Lanka.

“There is a company by the name of Regus which is a multinational company that is renting out office space in Sri Lanka. Be wary of their trade practices. Once you sign up with them for office space they basically hold you to ransom and arbitrarily charge you rentals etc. far in advance of when it is due and when it is pointed out that there is still time to pay they simply lock you out” former MP Vass Gunawardena pointed out in his Facebook adding that the reason given by Regus branch office is that all decisions are taken by their head office in Malaysia.

“They forget that Tenants also have rights under existing laws in Sri Lanka and the Laws applicable for such companies are the laws applicable in Sri Lanka and not Malaysia. The Board of Investment, The Rent Control Board etc. should look at regulating and making these companies adhere to local laws more stringently. A public campaign in this regard is prudent so that the rights of tenants are also protected. People be wary of this Company Regus in Sri Lanka” former MP Vass Gunawardena noted

IWG plc, formerly Regus, is a multinational corporation that provides a global workplace. Founded in Brussels, Belgium, in 1989, the business is incorporated in Saint Helier, Jersey. It is listed on the London Stock Exchange and is a constituent of the FTSE 250 Index. The company provides serviced offices, virtual offices, meeting rooms, and videoconferencing to clients on a contract basis. It operates in 110 countries with more than 3,094 business centers (as per 2017 Annual Report) making it the world's largest provider of flexible workspace. It is also one of the sponsors of Fair Spend, and Mars One, a Dutch private spaceflight project.

The company’s local website Regus.lk outlines that it has 7 locations in Sri Lanka’s Financial Capital Colombo, whilst the company has earned over Great Britain Pounds 351.1 million as revenue from

According to Sri Lankan legal experts, where the Rent Act applies, the law weighs heavily in favour of tenants, who can terminate a monthly tenancy at any time with a month's notice, while the landlord can only do so on the grounds specified in the Act which include the following:

The rent is in arrears for a period of over one month. The premises are being used for immoral or unlawful purposes by the tenant.

The premises are being used in such a manner as to cause substantial deterioration.

Several new grounds were introduced by an amendment to the Rent Act in 2002.

The reports and research also highlight that upon the termination of a monthly tenancy or lease, if the tenant or lessee does not vacate the premises as required by the notice of termination, legal action for eviction becomes necessary. According to some legal experts In the case of a lease for premises not governed by the Rent Act, there is no restriction on the period of notice which the parties may agree, either as regards landlord's or tenant's notice. And unless there is a breach of the terms, covenants or conditions by either party, or the lease itself provides for termination, the lease cannot be terminated by either party without the agreement of the other.

In Sri Lanka a lease for a fixed term should be by deed notarially attested. If not so executed, it will amount to a monthly tenancy, and could be terminated by either party with a month's notice, according to legal experts.

Meanwhile in recent times several real estate landlords and general public outline that immigrant Chinese workers including some ‘White Collar Chinese workers employed at Chinese Multinationals’ who flocking to Sri Lanka to work in China funded companies or projects in Sri Lanka had been avoiding notary attestation when they have been renting property during their employment in Sri Lanka.

On the other hand recently released annual financials of IWG PLC (Regus) highlights that revenue from all the open centres in Asia Pacific alone increased 5.1% at constant currency to £379.3 million (British Pounds) out of total revenue of over £2 billion (£2,000 million). Total revenue in the region had increased 2.2% at constant currency to £383.2 million (up 5.5% atactual rates). Report highlights that both some markets, however, like India and China, performed below their expectations. Company had added 57 new centres into Asia Pacific, taking the total as at 31 December 2017 to 638 centres.