Or drill out old rivet and replace with nut and bolt.
I found some 1 inch by 12 foot lashing straps with camlock buckle at harbor freight for $4.49, they go all the way around my tent and have a little extra strap to spare. What will happen if I still out the current rivet and don't replace it with anything? Is it holding anything other than the stock strap? Will leaving the holes in it be ok?