Shared pain, shared future is the best way out for tenants and landlords
The agreements being forged now will do much to determine prospects for recovery after the Covid-19 lockdown
07 May 2020 - 14:34
Commercial lease agreements were never crafted for times of pandemic. As the weeks bleed by and customers are kept from stores and restaurants by fear and fiat, tenants increasingly cannot meet their rent bills. Landlords are becoming stranded as their incomes drain away.
The domino effect is in full swing. And when the contract cannot hold, things threaten to fall apart. Some will rush for the exits with cries of force majeure even as others try to bolt the gates...
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